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May 19, 2022

Romanian Post privatisation deadline postponed for end 2012, early 2013

The privatisation of the Romanian Post will be over at the end of the year or even in the first months of 2013 rather than June 2012 as agreed with the IMF, the initially set deadline being unrealistic, Communications Minister Razvan Mustea has told a press conference recently, Mediafax reports. ‘The intention is for us to identify a reliable investor in the Romanian Post. Once that process is over, the state will keep the majority stock of 51 per cent’, Mustea added, also emphasising the fact that several relevant companies including the Belgium Post had already shown an interest in the Romanian postal operator.   He also noted that the privatisation of the company would start with the selection of a legal consultant which would happen within a month and would continue with the selection of a privatisation consultant. Data presented by the minister indicates the Romanian Post closed 2011 on a loss of RON 68 M, 30 M of which represent provisions for various litigations. ‘The financial circumstances of the Post have improved, a number of agreements causing losses to the operators have been rescinded’, Mustea also said. At the conference, the official also reminded that 511 Post workers had already been laid off this year, but assured that no more would be let go until the end of 2012. According to the minister, the national postal service operator has a monthly turnover of RON 110 M and spends RON 67 M on payroll expenditure. The communications minister also stressed that fiscal authorities, Police and other institutions had entered into agreements with the Romanian Post National Company (CNPR) for the provision of postal services, CNPR enjoying exclusivity until December 31, 2012. ‘The Ministry of Communications has no controlling competence. The most important actor in this business is ANCOM’, Mustea said. He added that the companies violating the exclusive right of the Post would be fined, penalties going as far as losing licence.

Communications Ministry looks into state’s options for Romtelcom listing

The Ministry of Communications is still looking into the state’s options for the listing of Romtelecom in which it holds 46 per cent, according to Minister Razvan Mustea. ‘With PricewaterhouseCoopers Audit we are assessing the strengths and weaknesses of each option. As soon as we make a decision, we will announce our chosen option’, he added. The estimative value of the contract is EUR 200,000, exclusive of VAT, and a term of six months, but it may not end any later than May 30, 2012.

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