The Romanian telecom operator Romtelecom will be listed on the stock exchange in 12 months, and before September 1  the law firm and the consultant that will assist the Romanian state in this process will be named, according to Minister of Communications, Valerian Vreme.

“We'll list either a part, or the entire stake that the Romanian state holds in Romtelecom”, said Valerian Vreme at the end of the meeting between the Officials of the Communications Ministry and the representatives of the Greek group OTE, the majority shareholder of Romtelecom.

Recently, Stefanos Theocharpoulos was appointed the company’s chief executive officer (CEO), replacing Yorgos Ioannidis who ended his mandate at the end of June, according to the ministry. Theocharpoulos is also the CEO of Cosmote, a mobile telephony operator also controlled by OTE.

OTE holds 54 percent of Romtelecom shares and the Romanian state has a 46 percent stake in the company.

Irina Popescu, irina.popescu@romania-insider.com