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Report says holding Iranian optical fibre company shares by state bodies is illegal

Business Materials 12 December 2012 12:29 (UTC +04:00)

Azerbaijan, Baku, Dec. 12/ Trend G.Mehdi/

Shareholders of the Iranian Net Optical Fibre Operator Company are all governmental organisations or those affiliated with state-run entities and this is against the law, the Fars News Agency quoted reported.

Fars quoted the deputy director of the company, Rouhollah Nasiri, as saying that 20 per cent of the shares belong to the ministry of information technology with the remaining 80 per cent belonging to private companies which are affiliated to state-run entities.

According to the law, the share of state bodies in the optical fibre operator company is not allowed to exceed 20 per cent.

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