Deloitte to determine if Romanian state can capitalize post operator

Financial consultancy firm Deloitte will determine if the state can invest RON 170 million (EUR 37 million) in the Romanian Post without this being considered state aid. The Government decided last year to allot RON 170 million to recapitalize the state postal operator but the operation hasn’t been finalized as the state must find if this investment complies with EU regulations for state aid. Communications minister Lucian Sova and Deloitte partner Lars Wiechen signed the contract on Monday. Deloitte will analyze the situation and come up with a report by November. The Ministry, which holds 80% of the Romanian Post’s shares, will pay Deloitte RON 118,800 (EUR 26,000) for this service. The Government wanted to increase the Romanian Post’s capital last year, to cover for the operator’s historical debt, but the minority shareholder Fondul Proprietatea opposed the operation. editor@romania-insider.com