Jordanian government sells 40% of telecommunications company

The Jordanian government has invited international companies working in the field of telecommunications to buy shares in the Jordanian Telecommunications Company.

The Jordanian government specified the condition that the company which will be selected should have achieved proceeds not less than $3.5 billion or its equivalent in Jordanian currency and that the number of lines installed by the company should not be less than 3.5 million lines.

The government reminded the applicants of the fact that the Jordanian Telecommunications Company is the only company to work in that field permitted to offer local and long distance calls until December 2002.

The government also reminded the applicants that the Jordanian company received permission to install a network for cellular phones. The cellular phone network will start working in November 1998.

The government clarified that the successful applicant will have 40% of the shares of the Jordanian Telecommunication Company.