| Jordan’s government has appointed Goldman Sachs to advise on the proposed divestment of the state’s stake in Jordan Telecom (JT).
Goldman Sachs will be responsible for distributing 104 million shares or a 41.5% stake in JT with private parties. Jordanian daily Jordan Times reported that Goldman Sachs was selected after evaluating proposals from investment banks including Citigroup, Credit Suisse First Boston, Deutche Bank and Morgan Stanley.
France Telecom, the Arab Bank and private shareholders are the other shareholders in JT. France Telecom has expressed interest in increasing its stake in JT.
Despite selling its stake in the company, the government indicated that even after divestment it would retain the right to veto any board proposals as decided by the Executive Privatisation Commission.
Source: Middle East and North Africa Today |