The government changed state company privatization norms and set a new deadline for the sale of state-run postal operator Posta Romana.
According to the decision, a privatization offer will be valid for 360 days from the privatization announcement and the seller may extend the validity of the offer by no more than 360 days.
The government changed Posta Romana’s privatization calendar and decided that the privatization offer will be valid until October 30, 2014 and the deadline to file preliminary non-binding bids is June 30, 2014. The deadlines may be extended for no more than 360 days, according to the new regulations.
Communications Minister Dan Nica said last week Posta Romana would be restructured in 180 days and potential investors have until June 30, 2014 to file bids for the privatization of the company. The bid submission deadline may be brought forward if the postal operator becomes attractive to investors after reorganization, Nica said.
No investor was interested in buying the taskbook for the privatization of Posta Romana in May. Potential investors asked for the privatization deadline to be extended after tax authority ANAF revised up Posta Romana’s state budget debts.
The company’s debts to the state budget currently amount to 242 million lei (EUR54.6 million).
Posta Romana is controlled by the Communications Ministry, which holds 75% of the shares, and investment fund Fondul Proprietatea (FP.RO), with a 25% stake. (EUR1=RON4.4291)