Friday, March 23, 2007

Romania: Romania Posts to sell POSTelecom shares

10:00 - 23 March 2007
The Romanian Post sold the Czech Tactical Network Investments, for 5 million euros, its package of 80 percent shares in the First Project, former POSTelecom, early this March, announced Romania Post general director, Dan Mihai Toader, ACT Media news agency reports.

POSTelecom used to own a license in the 3.5 GHz bandwidth, which the General Inspectorate for Communications and Information Technology withdrew, because it never made use of it.

The Romanian Post and Tactical Network set up, early this year, the POSTelecom Network SRL and the former planed to bid in the auction the IGCTI stages to grant operation licenses in bandwidths of 410-415 MHz and 420-425 MHz, bands to supply mobile phone services and data broadcasting.

Provided POSTelecom Network wins an operation license, the Tactical Network Fund owning 51 percent of the shares of POSTelecom Network SRL will invest at least 60 million euros in the development of a communication network, in the first stage, Toader stressed.
Tactical Network is an investment fund developed by ZTE Corporation that showed interest in the POSTelecom project to enter the Romanian market of telecommunications supplying telephony services and data broadcasting.

Source: ACT Media News Agency

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