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Tuesday, February 22, 2005

State to Sell 10% of RCB on Stock Exchange

The Government analyzes these days the opportunity of listing on the Romanian Stock Exchange 10% of the shares at the Romanian Commercial Bank (RCB), the largest bank in the system.

State minister Adriean Videanu announced that the cabinet also intends to put on the market 10% of the shares at the national oil operator, Petrom, operation where owner OMV already offered its agreement. Other companies to be soon listed are the national telecomm operator, Romtelecom, and a state-owned bank, CEC.

Romanian state still holds a 36.88% stock in RCB, after selling 25% to the European Reconstruction and Development Bank (ERDB) and International Finance Corporation, for 222 million dollars. The rest is held by BCR employees - 8%, and financial investment societies.

Posted by Mihai : 2/22/2005 08:11:00 pm