It has recently introduced an emergency ordinance that allows ministries to boost their stakes in the companies they held to prevent “hostile takeovers’ or their ‘decapitalization”.
“We created the legal framework and, as you know, we allowed ministries, public authorities to increase the number of shares in their companies. I will not speculate and may not point to an option, because they are listed companies (…),” Energy Minister Sebastian Burduja said during a conference.
Electrica went public on the Bucharest Stock Exchange in July 2014, putting up for sale more than 50% of its shares for EUR440 million. It was the only sale of a majority stake by the government on the stock market. The money raised should have helped turn it into a regional actor, but things did not go exactly as planned.
(English version by Loredana Fratila-Cristescu)