The Romanian Post will organize an auction for fixed telephone and data transmission services at the end of October.

The value of the contract is estimated at EUR 2.8 million (VAT included) for four years. The Post will finance the contract from its own funds, reports local Profit.ro.

The company had total revenues of EUR 269 million and a net profit of EUR 5.1 million last year. It had about 27,000 employees and over 5,600 units across the country.

The state holds a 75% stake in the Romanian Post, whereas the local fund Fondul Proprietatea has a 25% stake. The state attempted to privatize the company, but the Belgian postal services operator bpost, which was the only investor that had shown interest in this process, didn’t submit a binding offer for taking over a 51% stake in the company by Tuesday, September 15, when the deadline expired.

Alexandru Petrescu, general director of the Romanian Post, later said that the sale of shares by public subscription, followed by the listing on the capital market, was the best capitalization option for the Romanian Post.

editor@romania-insider.com