According to the announcement, the ministry is looking for an investment bank or consultancy firm with privatization experience. Bidders will be required to pay EUR8,000 for the tender book and submit a EUR50,000 guarantee.
Posta Romana is the largest postal operator in Romania, with a territorial network of about 7,100 post offices. The Communications Ministry owns 75% of Posta Romana’s capital, while investment fund Fondul Proprietatea owns 25%.
In 2011, the company’s turnover fell by 8.7% to RON1.26 billion, while losses climbed 50% to RON182.9 million, according to Finance Ministry data. Posta Romana had debts of RON556.9 million at the end of 2011.