TELECOMMUNICATIONS: END OF PUBLIC MONOPOLY IN ROMANIA.

Summary: The acquisition of a 35% stake in Romtelecom by the Greek operator OTE on November 12, has drawn a line under the public monopoly on fixed telephony in Romania and points towards an improvement in services in one of the country's most backward sectors. Described by the Government as the "deal of the year", the transaction will earn the Romanian authorities 675 million dollars, half of which will be diverted to the State budget, with the other half reinvested in the modernisation of...