The company is currently owned by the Communication Ministry, with a 75% stake, while investment fund Fondul Proprietatea holds the remaining 25%. Last year, Posta Romana registered debts of EUR29 million.
Following the share capital hike, the state might reduce its stake to about 51% and will continue to be major shareholder. Fondul Proprietatea’s stake might fall to15% unless the fund participates in increasing the company’s share capital, reads the document.
According to the source, the investor will be allowed to appoint a team that will ensure the management of the company for at least ten years.
In August, Communications Minister Valerian Vreme said he was in talks with the representatives of national postal companies in Belgium, Austria and Germany that were interested in becoming shareholders in Posta Romana. The minister said at that time the state would continue to be the major shareholder
“We also held unofficial talks with Fondul Proprietatea representatives who, in principle, accepted the proposition,” said Vreme.
Three weeks ago, Prime Minister Emil Boc met in Bucharest with his Belgian counterpart, Yves Leterme. The latter announced that the postal operator in Belgium, bpost, wanted to become minority stockholder in Posta Romana.
Posta Romana has a network of over 7,100 postal offices. Its 2011 budget states total revenues of 1.51 billion lei (EUR350 million) from RON1.4 billion in 2010, and a gross profit of RON2.34 million. (EUR1=RON4.3233)