According to Smeeianu, the reasons behind the lack of interest in Posta Romana are the company’s financial situation and its new debts of 107 million lei (EUR24.5 million), which were recently calculated by the country’s tax authority ANAF for the 2003-2012 period.
Investors interested in a majority stake in Posta Romana have asked for the extension of the deadline for the submission of bids after ANAF calculated new debts.
Posta Romana’s overall debts currently exceed RON240 million.
“The operator’s fiscal debts rise to RON242 million, including the RON107 million debt calculated by ANAF. Most debts stem from a contract concluded during the mandate of former general manager Dan Mihai Toader, which stipulated the granting of premium meal tickets,” Smeeianu also said.
He added that Posta Romana’s fate is in the hands of the government, which is considering converting the company’s debts into shares or rescheduling its debts, in order to make it more attractive to investors.
“Posta Romana’s total debts, including fiscal debts, amount to RON650 million,” Smeeianu concluded.
Romania is looking for a strategic investor to acquire 51% of Posta Romana. Investors interested in the company have until May 28 to submit bids. Eligible investors must provide “relevant and conclusive proof” they have at least EUR150 million for a cash injection into Posta Romana’s share capital.
The ministry owns 75% in Posta Romana, while local investment fund Fondul Proprietatea (FP. RO) holds the remaining 25% stake.
Posta Romana is the largest postal services operator in Romania and has a network of 7,100 units.
In 2011, the postal operator registered turnover of RON1.26 billion, down 8.7% on the year, while losses climbed 50% to RON182.9 million.
At the end of 2012, Posta Romana had debts of RON301.7 million to the state budget and of RON177.6 million to the social security budget.
Posta Romana currently employs around 32,000 people. (EUR1=RON4.3514)