AMMAN, 16 June 2005 — The Jordanian government on Tuesday picked up the US group, Goldman Sachs, as financial adviser for the sale of the state’s remaining 41 per cent stake in Jordan Telecom, according to the official news agency, Petra. Goldman Sachs won the contract in competition with other four international contenders — Deutsche Bank, Citigroup, Morgan Stanley and CS First Boston, the agency said.
“After appraising the technical offers, the five firms were initially short-listed into three, namely Goldman Sachs, Deutsche Bank and Citigroup. But Goldman Sachs’ offer was found the best from a technical and financial point of view,” it added.
The Jordanian Cabinet said earlier that the winning firm will be in charge of “evaluating the financial standing of Jordan Telecom with a view to arriving at the suitable price and fair sale conditions as well as the best methods to be adopted in selling the 41 per cent share of the firm”.