The measures are stated in an emergency ordinance approved by the Government.
According to an official document obtained by Mediafax Wednesday, the conversion of debts into shares will be carried out as part of the company’s privatization process, so the measure will not be considered state aid.
“The conversion of debts into shares will not affect the current shareholding structure of the company,” reads the document.
Posta Romana’s debts to the state budget amount to 242.5 million lei (EUR55.7 million) after tax authority ANAF calculated new debts of RON107 million on May 16. The new debt becomes exigible on June 6 this year.
The company registered total debts of RON650 million on May 28, 2013.
According to an emergency ordinance approved by the Government Wednesday, Romanian firms that amassed new debts to the state budget, after they had their older debts rescheduled, and were recently checked by tax authority ANAF may ask for a new debt restructuring. (EUR1=RON4.3497)