New deal between Bucharest and London Stock Exchanges could support London listing for Romanian state companies

The Bucharest Stock Exchange could support the listing of Romanian state companies on the London Stock Exchange, as the two markets signed a cooperation agreement, according to Dan Paul, head of the Brokers Association.

'The new Economy Minister has already announced intentions to continue the privatization of the four state companies Transgaz, Romgaz, Hidroelectrica, Nuclearelectrica and of Tarom. "Given the agreement we signed with the London Stock Exchange, we can support the authorities in selling these companies on international market,” said Dan Paul. Listing Romanian state companies in London would in turn increase the number of foreign investors interested in buying share packages, he went on. The new Economy Minister Daniel Chitoiu said during Parliament hearings yesterday (May 7 ) that he plans dual listings for Hidroelectrica, Nuclearelectrica, Romgaz and Transgaz on local and international markets. The same day, the head of the Office for State Participation and Privatization in Industry (OPSPI) Florin Vladan resigned, saying he was "incompatible with the new Government.” Vladan has been in office since November 2011 and under his supervision, Romania managed to sell a 15 percent stake in Transelectrica earlier this year. editor@romania-insider.com