Romania Invites Preliminary Bids for Majority in Posta Romana

Romania is inviting preliminary bids for a majority stake in its state-owned postal monopoly, Posta Romana SA, by April 11, according to an official document published by the government in Ziarul Financiar.

The Bucharest-based Cabinet, which wants to sell a 51 percent stake in Posta Romana through a capital increase, will hold an auction on the sale after talks with potential investors based on their non-binding bids, according to the statement.

For submitting a bid, an investor must prove its solvency and show it has the financial resources for a capital increase in Posta Romana of at least 150 million euros ($198 million).

The date of the auction will be announced after the Communication Ministry selects a short list of investors, according to the statement.

To contact the reporter on this story: Andra Timu in Bucharest at

To contact the editor responsible for this story: James M. Gomez at

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.