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Cyprus to try again to sell stake in telecoms firm Cyta
December 7, 2016 / 11:00 AM / a year ago

Cyprus to try again to sell stake in telecoms firm Cyta

LONDON, Dec 7 (Reuters) - Cyprus will try again “soon” to push through the sale of a minority stake in state telecoms company Cyta, Finance Minister Harris Georgiades said on Wednesday.

“We shall have another go, having failed to convince our parliament with a proposal for an outright privatisation. We shall have another go soon proposing a minority stake to be offered to an investor,” Georgiades said at an Economist event.

Cyprus attempted to sell a stake in Cyta last year as part of a sweeping privatisation programme that was part of an EU/IMF bailout in 2013. (Reporting by Peter Hobson and Marc Jones)

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