The Mongolian government's State Property Committee has submitted a list of companies that are to be privatised this year -and top of the list is the dominant telco, Mongolia Telecom. Under a programme of partial privatisation in 1995, Korea Telecom brought 40% of the company for US$4.5 million with the rest owned by the government and affiliated bodies.
Under the new plans, the government is seeking to buy back the 40% share and then resell the stake through an international tender. Following the sale, the government would retain a 51% stake in the company, with up to 10% being offered to employees.
The plans have reportedly been delayed by negotiations with Korea Telecom who are seeking a higher figure for their stake than the government is willing to pay.
On the web: UB Post
Posted to the site on 2nd January 2008
Posted to: www.cellular-news.com/story/28350.php