Jordan Times
Saturday, August 7, 1999
France Telecom joins race to bid for a 40 per cent
stake in JTC
By Saad G. Hattar
AMMAN — The French telecommunications giant ,France Telecom, has joined the international race to bid for a 40 per cent stake Jordan Telecommunications Company, Minister of Post and Telecommunications Jamal Saraireh said on Friday.
The French bid raises to five the number of international bidders which have, hitherto, sent letters of interest to the JTC, a week after the government unveiled a detailed strategy to privatise the company.
Southern Bell Corporation, Al-Ain (a firm from the United Arab Emirates), a Saudi-Kuwaiti consortium and Vodafone of the U.K. had all expressed interest in buying a stake in the Jordanian telecommunications sector.
The Saudi-Kuwaiti consortium is seeking to ally itself with the Spanish firm Telephonica, to meet the privatisation requirements.
The presence of a "technical partner" such as the Spanish firm is a prerequisite for bidders to win the contract.
Saraireh told the Jordan Times that his ministry will soon send to the potential bidders a package detailing the JTC's internal guidelines, organisational chart and working policy.
"We hope that the best bidder will win the stake," said Saraireh.
In addition to 40 per cent earmarked for the consortium, the JTC reserves the right to sell additional nine per cent to the Social Security Corporation. The JTC will sign a full management contract with a strategic partner in return for a percentage of revenue that the two sides will agree upon.