The government of Romania has approved an emergency ordinance (OUG) initiated by the Ministry of Energy with legislative amendments that allow ministries to increase their stakes in companies in which they are majority or minority shareholders in order to prevent their "hostile takeover" or "decapitalization," according to Profit.ro and Economedia.ro.

The explanatory note shows that companies listed on the stock exchange would be primarily targeted.

The OUG, as such, however, deals with all companies, listed or not, in which ministries, not just the Energy Ministry, hold shares. 

The relevant minister, Sebastian Burduja, recently stated that the transaction by which Hungary's state energy company, MVM, wants to buy the Romanian gas and energy supplier of the German group E.ON may not be approved by the authorities in Bucharest.

iulian@romania-insider.com

(Photo source: Opolja/Dreamstime.com)