Romania Won’t Back Out From OMV Petrom – Econ Min

„Withdrawing from the holders’ structure is out of the question. We will keep a stake of over 8% (in OMV Petrom),” Videanu said.

Last week, the Economy Ministry drafted a document showing the government plans to raise over EUR1 billion from selling shares in some of the country’s biggest oil and energy companies, including OMV Petrom.

According to the document, obtained by MEDIAFAX, the executive estimates total earnings of 2.43 billion lei (EUR1=RON4.1347) from the sale of a 12.64% stake in OMV Petrom on the Bucharest bourse.

Romania owns a total stake of 20.64% in the oil company, which is controlled by Austria’s OMV.

At around GMT1154 in Bucharest, Petrom shares were flat on the day at RON0.342.