The capitalization of the Romanian Post will not take place this year because the company’s minority shareholder, investment fund Fondul Proprietatea, doesn’t want this and has asked for additional guarantees, said Delia Popescu, minister of Communications.

The state holds a stake of 75% in the Romanian Post National Company via the Communications Ministry whereas Fondul Proprietatea owns 25% of the company’s shares.

The minister explained that, in the process of capitalization, all partners should come up with an amount of money, and the Communications Ministry has made every effort in this regard, reports local Agerpres.

The Government granted extra funds worth RON 172 million (EUR 38.1 million) to the Communications Ministry to finance the Romanian Post’s capitalization, Popescu added. However, “this contribution can’t be made only by the Communications Ministry, because it would be considered state aid."

The minority stakeholder, Fondul Proprietarea, has refused to participate in the General Meeting of Shareholders (AGM) and has asked for additional guarantees to get involved in this process, according to Delia Popescu.

editor@romania-insider.com