Iran state telecom firm privatised in $8b deal
A majority stake in Iran's only state-owned telecommunications firm was sold on Sunday to a private consortium in an eight-billion-dollar deal, the largest privatisation in the Islamic republic.
Three Iranian firms, part of a consortium named Etemad Mobin Development, bought 50 percent plus one share of Telecommunication Company of Iran for 78.191 trillion Iranian rials (7.8 billion dollars or 5.3 billion euros), state television reported.
The deal, which had a base price of 3,400 rials (34 cents) per share, was completed in just 35 minutes during Sunday's trading hours on the Tehran Stock Exchange.
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