Telekom Romania receives offers for Telephone Palace in Bucharest

The management of Telekom Romania Communications, the former Romtelecom, has received offers for the Telephone Palace in Bucharest. After checking the documents, they will be sent to the Ministry of Culture, which has the right of first refusal on taking over the property on behalf of the state. “According to the procedure, the Ministry of Culture may use this right within 30 days from the moment it receives the documentation. If it doesn’t use this right, the institution will submit the documentation to the Bucharest City Hall, which will have 30 days to decide whether to buy or not the building located on Calea Victoriei,” said Razvan Cotovelea, the Minister for Information Society, cited by local Ziarul Financiar. Telekom Romania announced in September that will sell the Telephone Palace, its former headquarters, and two other adjoining properties located on Calea Victoriei in Bucharest, for a starting price of EUR 21.6 million. Irina Popescu, irina.popescu@romania-insider.com