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50 pct of Iran's telecommunications privatized


TCI has monopoly over Iran's fixed line infrastructure, Iran's largest cellular operator (MCI), and Iran's major Internet service provider and data communication operator (DCI).
An Iranian consortium has signed a deal to buy 50 percent plus one of the shares of Telecommunication Company of Iran (TCI) for around eight billion dollars.


According to the deputy of Iran's Privatization Company, the related contract was signed Sunday with an Iranian consortium named Etemad Mobin Development that includes three firms.


"The historical deal was signed after an article was added to the $7.8 billion text of the contract according to which the buyer will be committed to the charter of TCI," said Mehdi Oghadaei.


The consortium had already bought the shares, in a controversial transaction, but the official contract had yet to be signed.


Earlier in November, General Inspection Organization of Iran (GIO) cast doubts on the privatization of TCI, saying that some uncertainties exist in the deal.


The GIO had prepared a report on the doubtful points and submitted to related bodies in the Article 44 Parliamentary Committee for further investigation, Mehr News Agency reported earlier.


The important deal, the biggest on the Tehran Stock Exchange so far, attracted lots of attention as TCI has monopoly over Iran's fixed line infrastructure, Iran's largest cellular operator (MCI), and Iran's major Internet service provider and data communication operator (DCI).


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