Middle East Economic Survey
VOL. LII
No 40
5-Oct-2009
IRAN
IRGC Consortium Takes Majority Equity In Irans Telecoms
A private consortium affiliated to the powerful Islamic Revolutionary Guards Corps (IRGC) Etemad Mobin Development Company bought 50% plus one share of the state-owned Telecommunications Company of Iran (TCI) for IR77.985 trillion (around $7.8bn), under an offering on the Tehran Stock Exchange (TSE) on 27 September. These shares were supposed to be floated on the market on 16...
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