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Telecom biggest block to be offered in bourse
TEHRAN, Aug. 10 (MNA) – The head of Iranian Securities and Exchange Organization said the biggest block in the history of the domestic capital market belonging to the Telecommunication Company is to be offered on the stock exchange market.

Ali Saleh-Abadi told IRNA news agency on Monday that 50 percent of the shares of the Telecommunication Company of Iran will be soon sold in the stock market.

 

He stated that the share value of the company is currently worth $15 billion and 50 percent of this sum would be $7.5 billion.

 

Saleh-Abadi pointed out that 20 percent of the payment should be in cash, adding that a potential client for the deal is presently available.

 

The official said albeit the financial crisis in the world market, Iran stock market has been able to resist the calamity due to the diversity of companies in the bourse and the addition of firms of the article 44 of the Iranian constitution.

 

MRK

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Aug 11, 2009 10:05
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