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Romania Govt OKs Sale Of Minority Stakes In State Companies

Romanian government has authorized the sale of minority stakes in several state companies and plans to use most of the funds for investments in road infrastructure, Economy Minister Adriean Videanu said Wednesday.
Romania Govt OKs Sale Of Minority Stakes In State Companies
21 apr. 2010, 16:28, English

Speaking in a news conference, Videanu said the money could be used to finance the budget deficit, but added that this is not the case.

„This action will help rebuild confidence in the Romanian economic system,” he added.

Last week, the Economy Ministry drafted a document showing the government plans to raise over EUR1 billion from selling shares in some of the country’s biggest oil and energy companies, including leading oil company OMV Petrom (SNP.RO), power grid operator Transelectrica (TEL.RO) and natural gas pipeline operator Transgaz (TGN.RO).