The Communications Ministry wired a first tranche of RON 153 million (EUR 32.9 million) to the Romanian Post’s accounts of a RON 170 million (EUR 36.5 million) capital increase. The ministry will pay the rest of the money in the last quarter of this year, it announced.

This is the first major investment the state makes into the Romanian Post, which is a strategic company for the state due to its services and wide-spread network, according to communications minister Bogdan Cojocaru. The company has over 24,000 employees and serves some 19 million people.

The state holds 75% of the Post’s shares and investment fund Fondul Proprietatea owns the remaining 25%. Fondul Proprietatea has been opposing the capital increase, which would require it to bring some EUR 12 million worth of capital to maintain its stake.

editor@romania-insider.com

(photo source: Posta Romana website)