Tuesday, October 18, 2011

Romania Seeks Investor in Posta Romana, Ziarul Financiar Reports

Romania is trying to attract an investor in Compania Nationala Posta Romana SA, the monopoly postal service, to boost its capital, Ziarul Financiar reported today, citing a government document.

The investor would get a 34 percent stake in the unprofitable company in exchange for the capital increase and designate managers for at least 10 years, Ziarul Financiar said, citing the document. The government would retain 51 percent of Posta Romana, with the remainder held by property restitution fund Fondul Proprietatea SA, according to the newspaper.

To contact the reporter on this story: Irina Savu in Bucharest at isavu@bloomberg.net.

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net

No comments: