stakes

Romania’s government plans to raise over EUR1 billion from selling shares in some of the country’s biggest oil and energy companies, including OMV Petrom (SNP.RO), Transelectrica (TEL.RO) and Transgaz (TGN.RO).

Romania’s tourism minister Elena Udrea said Tuesday, within the International Tourism Fair in Madrid, that she disagrees with selling, during this period, the stakes the ministry owns in several hotel companies, arguing the ministry would obtain low prices in the fallout of the economic crisis.

Romania’s privatization authority AVAS plans to put up for sale this year large companies in which it holds majority stakes, AVAS head Teodor Atanasiu said Sunday.