Telecommunication to be sold off in Tehran` stock exchange by next two weeks: official

“If audit office presents its financial accounts report this week, the company will be sold off stock exchange by the next two weeks,” Privatization Organization head Gholamreza Heidari Kord Zangane told Mobna news agency.
“Iran telecommunication subscribers subscription fees will not change to stock at all. The subscription fees will transfer directly to Telecommunication Company of Iran (as assets),” deputy finance minister explained.
According to Telecommunication Company of Iran managing director when audit office approves the Earnings Per Share (EPS) for the March 2008 – March 2009 period and the new capital amount, then telecommunication stock will be sold off.
Meanwhile Mobile Company of Irans capital which was 36 trillion rials (3.8 billion dollars) has increased to45 trillion rials (4.7 billion dollars) due to the investments in some provinces in March 2007 – March 2008 period. 
According to the last officials promises it was planed that TCI stock gets sold off after the new Iranian year holidays are over (End of March 2008). But four month have passed and it seems that selling TCI stock confronts with new barriers.
80 percent of its stock will be sold off, and foreign companies are allowed to acquire up to 10 percent of currently state owned Telecommunication of Iran (TCI) stocks.
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