Romanian state took dividends of almost RON 400 M from ex-Romtelecom

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Telekom Romania Communications (former Romtelecom) paid to shareholders, the Greek group OTE and the Romanian state, three times dividends between 1999, the first year after privatization, and 2015, profit.ro informs.

According to the Ministry of Communications data, the state’s representative in telecom operator shareholding, the dividends paid to the state budget totaled RON 384.76 million during the mentioned period.

The first payment of dividends occurred in December 2006, when the state took RON 144.99 million corresponding to the profit achieved by the company in 2005.

Four years later, in November 2010, the state received dividends amounting to RON 55.79 million for the profit recorded in 2008 and 2009.

The last payment was made in February 2011 when the Ministry of Communications received dividends of RON 185.97 million from the profit obtained in 2006 and 2007.

Telekom Romania Communications majority shareholder is the Greek group OTE by OTE International – 54.01 percent. The Romanian state holds 44.99 percent stake.

Despite the investments made and the change management, OTE’s entry in former Romtelecom shareholding was not auspicious, company’s revenues entering a negative trend, amid the decline of fixed telephony.

 

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