13.8 C
October 24, 2021

Romanian Post to contract foreign loan. Company carrying out programme to optimise and develop its e-communications network

After barely dodging the interest shown by Bpost, Belgium’s small state-owned post services operator, the Romanian Post National Company recovered as a result of better internal management. Now, the eyes of other investors have turned toward the Romanian company. Before that however, at least at a declaratory level, the Communications Ministry, through the voice of Minister Marius Bostan, wants the Romanian Post’s financial power to be obtained through floatation on the stock exchange.

“In what concerns the Romanian Post, I’m not saying it was a privatization failure, but it was an unsuccessful phase. We are preparing a “roadmap” for the next 5-7 years, one that would include attracting equity capital. Personally, I am the fan of floatation on the stock exchange. However, we have to see what the consultants say. We are engaged in advanced talks with an international financial institution in order to attract a part of the capital needed in order to develop, a stage given by the Board in order to assess this possibility. The sums needed to develop the Post are very high. The Post needs huge investments, and in the current financial situation the money can only come from loans,” Bostan said at a special conference.

The Romanian Post closed 2015 on profit, a strategy that will continue in 2016 too. In this context, the company’s management is focusing on implementing the “Optimisation and development of the Romanian Post’s electronic communications network” project, by creating an integrated and centralized IT system in line with European standards, in order to ensure the efficient use of resources and data security.

The Romanian Post is owned by the Romanian state, through the Information Society Ministry (75 per cent of shares), and by Fondul Proprietatea (25 per cent). The company has the largest mail distribution network at national level, representing over 80 per cent of all post offices that currently operate in Romania. The company closed last year with a net profit of RON 22.8 M (EUR 5 M), after five years of losses.

Related posts

Credit Europe Bank re-launches its website, opens a new chapter on digitization with Zitec


Deloitte and FintechOS, partners in CEC Bank’s digital transformation


Chevron stops shale gas exploration in Romania

Nine O' Clock