 In September 2007, the Ministry of ICT announced that 51% of TCI would be privatized before the end of the Iranian calendar year on 20 March 2008.As a forerunner to the sale of a controlling stake in TCI, a 5% stake in the operator was scheduled be floated on the Tehran Stock Exchange before the end of December 2007.The flotation of this minority stake did not take place as planned, and in January 2008 it was reported that TCI would first have to be established as a fully licensed telecoms service provider.