Romanian government plans to privatize companies

Romania will privatize its postal and national radio communication companies, the government said.

The radio communication company would be sold by the end of next year, while the postal company would have to be restructured first and could be sold by 2008, Communication and Information Technology Minister Zsolt Nagy said.

The state is interested in finding a strategic investor to take over the postal company, Nagy said.

The government also intends to list its minority stock in national telephone company Romtelecom on the stock exchange. The state owns 46 percent in Romtelecom, which is majority owned by Greek company OTE.

Consultants for the sales would be hired after a public auction, Nagy said.

About 25 percent of the state-owned stock in the Romanian Post and 20 percent of Romtelecom’s stock would be transferred to a fund which compensates people whose property was confiscated during the communist regime.