ECONOMY

Cosmorom has suitors, minister says

BUCHAREST (Reuters) – Several companies want to buy the ailing mobile arm of fixed-line carrier Romtelecom, owned by Greece’s OTE, Communication Minister Dan Nica was quoted as saying by the daily newspaper Bursa yesterday. Cosmorom, with a less than 2 percent share of the Romanian mobile telephony market, has liabilities of around 190 million euros and OTE officials have said they were considering shutting it down while keeping the mobile telephony license in Romania. «There are currently several very serious offers to buy Cosmorom,» Nica said, adding that the offers came from «top operators.» He did not elaborate. Nica had previously said a decision on the fate of Cosmorom would be reached in November, but he now said the ministry was still waiting for a report on Cosmorom from consultant Deutsche Bank. The paper quoted Nica as saying that OTE had requested the postponement of a shareholders’ meeting, where the fate of Cosmorom was to be discussed, to sometime around Christmas. It was initially scheduled for Tuesday.