Podgorica (MINA-BUSINESS) - Montenegro#s committee of the PTT independent trade union on Wednesday formed an Association of minority Telecom shareholders and elected the former general manager of the company Jusuf Fetahovic as its president. The Association has its assembly and board of directors. It has collected authorisations to represent some 17 percent of the Telecom capital. The total capital has been estimated at more than 203 million euros. The Association will have one representative in the Telecom board of directors and perhaps two if it extends its representation to at least 20 percent of the capital. Committee president Miodrag Pajovic said 14 percent of Telecom capital was not represented and invited its owners to join the newly-formed Association.