ECONOMY

Cyta privatization process to be launched by May

Cyprus aims to launch the privatization process for state telecoms company Cyta by May in inviting potential bidders to submit nonbinding expressions of interest, the island’s privatization commissioner said on Friday.

Constantinos Herodotou told a business conference the target date for the completion of the process, which will be in three phases, was the end of 2015.

“Our aim is to launch the transaction around the end of April or May this year,” Herodotou said.

[Reuters]