Romania could get EUR 8.4 bln from selling stakes in state-owned companies

Romania could get some EUR 8.4 billion by selling the shares it still has in the most important state companies, and would thus cover 6.3% of the country’s public debt, according to a study by the Economic Research Institute in Austria, quoted by Mediafax. The sale of shares in Romgaz, OMV Petrom, Nuclearelectrica, Transgaz, Rompetrol, Transelectrica, Conpet and Oil Terminal on the stock market would bring some EUR 4.6 billion. The companies are already listed on the Bucharest Stock Exchange, but the state still holds significant stakes in each of them. Selling the state’s shares in Hidroelectrica, Complexul Energetic Oltenia, Electrica Furnizare and Societatea Nationala a Sarii would also bring an extra EUR 3.8 billion. These companies aren’t currently listed, but the Government promised it would make them public. Romania should use the money from asset sales to finance investments, stimulate competitiveness and increase productivity rather than to reduce its sovereign debt, according to analysts. editor@romania-insider.com