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Cyprus plans new push for telecoms firm privatisation in January - minister
December 7, 2016 / 12:55 PM / 9 months ago

Cyprus plans new push for telecoms firm privatisation in January - minister

LONDON, Dec 7 (Reuters) - Cyprus aims to take a bill to parliament in January to privatise a stake in state telecoms firm Cyta, and hopes to sell Cyta’s Greek subsidiary in March or April next year, one of its top privatisation officials said on Wednesday.

The government was in the “final stages” of developing legislation to sell a minority stake in Cyta, the Finance Ministry’s commissioner of privatisations Constantinos Herodotou said.

“We aim and hope to take the new structure to parliament within January,” he said at an Economist event.

He also said Cyprus aimed to submit a bill for the full privatisation of Cyta’s Greek arm, Cyta Hellas, earlier than its parent company.

“The timing for this assuming we get all the necessary final approvals will be to launch the transaction around March or April 2017,” Herodotou said.

Reporting by Peter Hobson, editing by Marc Jones

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