Sale of the first tranche (at least 10 percent of the company) of government's residual shares in Makedonski Telekomunikacii AD.
EBRD is the lead institution in the ESM privatization process. The test date for privatizing the distribution component of ESM is end-March 2006.  At P1R1, the "privatize the distribution of ESM" component of this spc was dropped.  