Another failed privatization attempt for the Romanian Post

The Romanian Posts privatization failed again as the Belgian postal services operator bpost, which was the only investor that had shown interest in this process, didn’t submit a binding offer for taking over a 51% stake in the company by September 15, when the deadline expired. The Romanian Post’s privatization process will come under a new analysis, according to Romania’s Ministry for Information Society. The sale of shares by public subscription, followed by the listing on the capital market, is currently the best capitalization option for the Romanian Post, said Alexandru Petrescu, general director of the Romanian Post. “The Post’s privatization hasn’t failed. The fact that the current privatization formula had no outcome doesn’t mean that the Post can’t search for a capitalization option that better fits the company’s current economic situation,” Petrescu added, cited by local Agerpres. He said that the Romanian Post would be a unique opportunity for investors on the bourse. The Romanian Post recorded a profit of EUR 5 million at the end of last year, after five year of losses, Alexandru Petrescu said. editor@romania-insider.com