PM Ponta says Gov't keen to list other state-owned companies this year, deplores lengthy procedures

Premier Victor Ponta said on Wednesday that steps to list another state-owned company will be taken depending on the completion of the required procedures, adding that in Hidroelectrica's case, a court solution is sought to sooner get the company out of insolvency and have it listed on a stock exchange.

In this context, apart from electricity producer Hidroelectrica, which has been wading through a judicial procedure since 2012, Ponta also mentioned the Otopeni International Airport, the Constanta Port, and Romtelecom, which all have to complete cumbersome procedures. "Therefore, I refrain from giving you a very clear timeline, because we need to comply with procedures specific to the state's private property," the Premier said when asked if this year there might be a new listing of a state-owned company.

He added that the Government is also considering for stake sales unlisted companies that undergo restructuring and are in need of capital.

Referring to the dividends worth roughly 1 billion lei Hidroelectrica is to pay this year, the Prime Minister deplored the lengthy procedure that keeps the company in insolvency instead of allowing it to get listed.

"It's a big loss when the most profitable company in Romania is stuck in year-long litigations because of some 'smart alecs' and of parasitic companies, which certainly, were no longer able to siphon Hidroelectrica, but didn't let it live either. At this point, I want to tell you that, together with the Minister of Justice, I asked the leadership of the Bucharest Court to find a faster procedure to get the company out of insolvency. And I think that Hidroelectrica's listing will be even a greater success than that of Romgaz or Transgaz," the Premier said.

Victor Ponta added that...