Romania’s Transport Ministry wants to change its strategy for the railway freight operator CFR Marfa’s privatization. It plans to sell a 51% stake in the company via the stock market, according to Iulian Matache, state secretary in the Transport Ministry.

“It is a much clearer solution that leaves no room for interpretation, it is transparent,” Matache said, cited by local Mediafax.

CFR Marfa returned to profit last year after five consecutive years of losses, as it laid off some 2,500 employees or 30% of its workforce.

In February, Prime Minister Victor Ponta announced that the government would resume the freight operator’s privatization. The Romanian authorities agreed on this with the representatives of the International Monetary Fund and the European Commission. The deadline to complete the privatization process is next year.

In March this year, Rüdiger Grube, CEO of German railways company Deutsche Bahn said the German company was not interested in the privatization of CFR Marfa.

editor@romania-insider.com