The Ministry of Communications considers selling shares in the Romanian Post through an initial public offering (IPO) on the stock market, after the privatization process with a strategic investor failed last year, said the Communications Minister Marius-Raul Bostan.

The Ministry also wants to launch a restructuring and management plan of the company that would a longer period, Bostan added.

“We will try to transform the Post into a public company. The state will continue to hold shares, but the company needs to enter into a process of transparency,” said Bostan.

The Romanian Post has about 27,000 employees and over 2,700 units covering all of Romania. However, its systems were outdated, the Communications Minister added.

The state tried to sell the Post last year and initiated talks with the Belgian postal operator bpost, but they failed to reach an agreement.

editor@romania-insider.com