Over 51% in SNP up for sale

Economy and Trade minister Dan Ioan Popescu on Monday said the State might put up for privatisation more than 51% in SNP Petrom. “I am in favour of privatisation. I am not a fan of 51%; the percentage can very well be higher,” Dan Ioan Popescu said. He also specified the employees would be allowed to buy up to 10% in Petrom’s share capital. The minister said one thing had not been cleared up yet. It is about the 10% and whether they should be included in the 51% or not. He specified that if he were an investor, he would like to participate in managerial decision-making at Petrom side by side with other private representatives instead of the State. On the other hand, the state needs to monitor the compliance with the post-privatisation investment commitments and this has to be agreed upon with the investors, as explained by the Economy minister. ZF