Belgian post operator 'bpost' to hold talks over potential investment in state-owned Romanian Post

The Romanian Post will start talks with the Belgian post operator, 'bpost,' which could become an investor in the Romanian state-owned postal service. The discussions have been agreed by Romanian Prime Minister Victor Ponta and his Belgian counterpart Elio Di Rupo, who met recently in Brussels. Ponta said the Post privatization project was blocked in 2010, as the former Government wanted to keep the Post under state control for illegal and unscrupulous advantages, such as committing large frauds and 'losing' trials with agreed lawyers. Last fall, the Government was planning to find a strategic investor for the Post, with the intention to sell 20 percent of the shares following a share capital increase. So far, representatives of the national Post operators in Austria, Belgium, Germany, the UK, Italy and Sweden have shown interest in the Romanian Post. The Ministry of Communications and Information (MCSI) earlier said it was planning to sell 20 percent in the Post to a strategic investor by the end of September. The Romanian Post diminished its losses by 85 percent last year, to some EUR 4.3 million. The Romanian Post, which has 35,000 employees, is 75 percent controlled by the Communications Ministry. The Fondul Proprietatea investment fund owns the remaining 25 percent of the shares. The company has over 5,500 units across Romania and handles 11 million parcels every week. Belgian bpost posted a net loss of EUR 57.4 million in 2011, after a profit of EUR 209 million in 2010. Its turnover increased by 2 percent, to EUR 364 million last year, according to the most recent data. editor@romania-insider.com (photo source: Romanian Post)