History
In 1930, Societatea Anonimă Română de Telefoane (SART, "Romanian Telephone Company, Ltd.") was founded, more than 90% of its value being a foreign investment from ITT.
During this period (1930–1933), SART commissioned Palatul Telefoanelor (The Telephone Palace), a historic building in Bucharest. Although the building has suffered from several earthquakes and a bombardment, it is still standing, and has recently undergone a process of reconstruction and reconsolidation.
In 1949, SART was nationalised and turned into a division of the Ministry of Posts and Telecommunications. The slow pace of technological development that ensued was in accordance with a more general trend in the country during the Communist period, which lasted until 1989.
In December 1989, ROM-POST-TELECOM was created as a post and telecommunications operator, independent of the Ministry. The current name of Romtelecom was given after a reorganization in July 1991, when the state-owned company was also given the monopoly for basic telecommunications services.
In 1998, a share of 35% was sold the Greek company OTE. A corruption case arose around details of this privatisation, but eventually no measures were taken.
OTE has since acquired an additional 18% of the shares and has thus become the majority share holder of the company.
In April 2009 Romtelecom launched first CDMA 420 MHz network in the country under the brand "Clicknet Mobile".
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Famous quotes containing the word history:
“History has neither the venerableness of antiquity, nor the freshness of the modern. It does as if it would go to the beginning of things, which natural history might with reason assume to do; but consider the Universal History, and then tell us,—when did burdock and plantain sprout first?”
—Henry David Thoreau (1817–1862)
“History, as an entirety, could only exist in the eyes of an observer outside it and outside the world. History only exists, in the final analysis, for God.”
—Albert Camus (1913–1960)
“We may pretend that we’re basically moral people who make mistakes, but the whole of history proves otherwise.”
—Terry Hands (b. 1941)