Romtelecom

Romtelecom is the largest telecommunications company in Romania; the majority of shares are held by the Greek telecommunications company OTE (54.01% of shares). The Romanian state also has a minority stake of 45.99% in the company. The company had a monopoly for the provision of fixed telephony services until January 1, 2003. Currently, according to the OTE Group 2006 1st Quarter Results Press Release, Romtelecom has 3,835,647 fixed telephony lines, down from 4,279,038 at the end of 1st quarter 2005. Romtelecom has also the second CDMA network in the country.