ROMANIA - According to market sources, in today's meeting, the government will decide on the price at which the 15% stake in "Transelectrica" (symbol: TEL), will be sold.The final prospectus will include a minimum and maximum price, which will be set by the Government. At the end of the trading session, yesterday, the price of a TEL share was 17.06 lei, which means the 15% stake in the company was worth 187.58 million lei.
The intermediaries of the offering, which have met the foreign investors, in a "road-show" in Europe, will try to obtain the discount requested by investors. Domestic and foreign investors alike claim that in order for the offering of "Transelectrica" to be successful, the government needs to grant a discount of at least 10%. Some of the experts of the capital market feel that, if the state won't agree to offer a discount, the offering might be unsuccessful, which would represent a disaster for the stock market. Through the agreement with the IMF, the government has pledged to sell, through the "Office For The State's Interests and Industrial Privatization" (OPSPI), 10-15% stakes in the companies owned by the Ministry of the Economy. The first sale offering, which is part of this agreement, is the one conducted by the "Transelectrica" Romanian National Power Grid Company (symbol: TEL). The Romanian government currently owns 73.6% of the shares of the company, the Proprietatea Fund owns 13.4%, and the free-float is 12.8%.
The Brussels double standards are shameful: they refuse half a billion to poor Hungary whilst bullying her and at the same time they showered Defaulted, bancrupt Greece with 66 billion in the last few days alone. Also ,why they are not tough with Spain which deficit is already exceeding 5.8 % instead of the 4.4% as required by the just signed Fiscal treaty and will be probably/surpries, surprise/ double as much further down the line this year? How long the lazy, profligate PIIGS countries will get preferential treatment in Europe and be Europe's spoiled children that are allowed everything unlike Eastern Europe that is the foster kid, pushed aside , humiliated,bullied and ignored? That's the reason why I immigrated to America years ago and I would not give a single cent cent businnes to the criminal EU.....Barosso and Juncker, eat your hearts out....Will these EUSSR members ever wake up to what is being done to them?---- They are slowly being castrated by the parasites in Brussels, who are more interested in saving their beloved euro and their fat necks, than any mere country!! It only needs a handful of members to say enough is enough and the whole house of cards will come crashing down!
6 comments:
tonight in Brussels the choreography went horribly wrong: Jean Claude Juncker, head of the group of 17 euro zone finance ministers, was snapped strangling his Spanish counterpart.
Manifestement it was all a big joke: Luis de Guindos wasn't actually throttled and Jan Kees De Jager, the Dutch finance minister looming behind him, didn't wade in with his fist either. But the grim look on Mr de Guindos' face shows it wasn't all that funny - but nor was it entirely unexpected.
Moments before, the eurogroup had approved the €130bn (£108bn) bailout package for Greece. After five months of wrangling - and just a week before Greece was due to default - the deal should have been a cause for some celebratory plate-smashing at least.
But behind the scenes, Spain had hijacked the meeting. In a tersely-worded statement, the eurogroup announced they had agreed to relax Spain's deficit target for 2012 - from 4.4pc set by Brussels last year to 5.3pc.
Why they bother signing papers nobody adheres to anyway?
I bet Spain and Italy's deficits will be double the 4.4% this year .....and then Germany has to fill the gap....and then Germany won't have so much money ...and then lets hope the whole thing goes bust.
If Spain can sign up to a European treaty then immediately and unilaterally decide not to adhere to it... Can we please do the same? There's a whole host of things we've been signed up to that in retrospect look daft.
'the eurozone is a monetary union, not a political one, and if members want to run their own affairs, neither Brussels nor Berlin can stop them.'
Hallelujah! Someone please give the Spanish Prime Minister the Nobel Prize for Stating The Obvious!
Oh, and while you're at it, could we please have the above quote tattooed on the forehead of every political maggot in Britain? Thank you.
LA writes:
" Spain had hijacked the meeting. In a tersely-worded statement, the eurogroup announced they had agreed to relax Spain's deficit target for 2012 - from 4.4pc set by Brussels last year to 5.3pc."
This is an "untruth" to put it mildly:
Draghi, Merkel and the other Eurozone leaders were informed of Spain's intentions not later than the 23rd of February last. And nine days before the signing of the fiscal-pact.
But hey! ... who needs the truth when it is dull? Why spoil another good opportunity to spread another dollop of FUD?
It's not an untruth, just colourful wording. We've all been reading about Madrid's defiance - that part is no surprise. But EZ officials have been rather busy with Greece and only now have got round to the Spain issue. The eurogroup certainly must hate having to face the embarrassment of giving in to Madrid. I'm sure they didn't want to have to deal with this when they've barely sorted the latest Greek deal. This is all the "hijacked" comment refers to.
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