Warning: preg_match(): Unknown modifier '2' in /home/bursaexp/public_html/bursa_ro/_config/class.mobile.inc.php on line 70
THE FIRST TRANSPARENCY EXAM, FAILED The announcement concerning the intention to take DIGI public is confusing - English section - Ziarul BURSA
Gala BURSA Construcțiilor 20 de ani
THE FIRST TRANSPARENCY EXAM, FAILED
BURSA 12.04.2017

ADINA ARDELEANU (translated by Cosmin Ghidoveanu)
 
mărește imaginea
Serghei Bulgac
     *  DIGI Communications: "No individual may rely, for any purpose, on the information included in this press release, or on the accuracy, impartiality or exhaustiveness thereof"
     *  The company isn't responding on whether it has submitted a request for the approval of the prospectus and what an "adjusted" EBITDA means, as the company has announced a margin of 31.2% for that indicator
       Dutch company "Digi Communications N.V.", the majority shareholder of "RCS&RDS" SA which holds 95.79% of the shares, yesterday announced that it intends to get listed on the BSE. The details of the offer will be published in a prospectus, following the approval by the Financial Markets Authority of Netherlands (Stichting Autoriteit Financiële Markten).
     The listing of "RCS&RDS" has been awaited for years, meaning that the players in the Romanian stock market, led by the BSE, have rushed to pop open the champagne, before reviewing what is included in the offer, in which part of the shareholders are putting up for sale a stake of 25% of the company, and to "translate" the Digi press release.
     It is true, a new private IPO, following the MedLife model in December, represents a good PR event for the Romanian market, which is in the process of being monitored for moving up to the emerging market status.
     Beyond the PR exercise however, the Digi ad provides no clear information about the company that is going to be listed, in fact it actually leaves room for confusions.
     * "DIGI" and "RCS&RDS"?
     First of all, the name of the company making the offer - "Digi Communications N.V." - only appears in the title of the press release, while it is afterwards simply referred to as "DIGI".
     About "DIGI" we find out that it is a "significant provider of telecommunications services in Romania and Hungary". Still, throughout the press release, the key aspects presented about "DIGI" seem to be referring to "RCS&RDS": "The diversified portfolio of complementary media and telecommunications services, its advanced infrastructure and latest generation fiber optic networks on the core markets allow the company to provide reliable coverage to its customers, solid financial performance, very reliable management team, attractive dynamic of the local industry, with a structural stable growth".
     The announcement features no direct mention of "RCS&RDS", it just presents a statement by Serghei Bulgac, CEO of RCS & RDS SA, the biggest operational company of the group and future CEO of DIGI: "Today marks a historic day for DIGI Communications NV and for the Romanian economy, in general. As one of the biggest providers of telecommunications services in Romania and Hungary, the intention to get listed on the Bucharest Stock Exchange is an important opportunity for the Romanian public and will represent an achievement that we are very proud of.
     By investing in DIGI, investors get access to an attractive leader in the industry, with a stable structural growth. Investors will benefit from the expertise of our management team and from a brand with strong recognition on the markets that we are active on and on our customer segments. The Board of Directors of the Company proudly supports this stage of our development and eagerly awaits to work with future shareholders, as a company listed on the stock exchange".
     Digi Communications NV is the parent company of the "RCS& RDS" group, the representatives of "RCS&RDS" SA said, upon an enquiry from "BURSA".
     They have stated that "Cable Communications Systems", the parent company of "RCS&RDS" is being changed into Digi Communications NV. According to the Office of the Trade Registry, "Cable Communications Systems" owns 95.79% of "RCS&RDS".
     The company also wants to suggest that it has remarkable earnings.
     According to the announcement sent yesterday, DIGI has constantly generated strong revenue flows and a robust adjusted EBITDA since 2014: "In 2016, DIGI generated revenues of 842.8 million Euros, and the adjusted EBITDA and the relevant margin have amounted to 263.3 million Euros and 31.2% respectively, representing an annual compounded growth rate of 8%, between 2014 and 2016".
     The representatives of the company have declined to explain what "adjusted EBITDA" means or if they have already submitted the request for the approval of the prospectus with the Oversight Authority of Holland.
     The fact that a company that wants to get listed, meaning it is willing to become transparent, doesn't provide answers to some simple questions, based on its own press release, raises suspicions, especially since the uncertainties concerned a mere definition. Behind the pompous phrases, there is clear no economic information, which would allow investors to make a decision on whether to participate in the offer, like some voices in the market claim.
     Furthermore, the company does not recommend to investors to rely on its own data presented in the announcement: "The content of this communication has been drawn up by DIGI at its own responsibility.
     The information included in this press release and they do not make any claims of completeness. No individual may rely, for any purpose, o the information included in this press release, or on the accuracy, impartiality or exhaustiveness thereof".
     The DIGI announcement, also shows that investors shouldn't buy any securities mentioned, unless they do that based on the information included in the prospectus, which will be published once it is approved.
     * The offer, for a block of 25% class B shares
     The DIGI announcement mentions an IPO, which will include an offer of class B ordinary shares originating from existing shareholders: "The company will not obtain any part of the amount obtained from the sale of the shares on offer".
     Some brokers have noted, however, that in the case of DIGI, it is a secondary public offer, given that the securities are offered for sale to other shareholders.
     The IPO represents the first public offer to sell shares in a closed company, following which the company in question becomes open.
     The company intends to take public at least 25% of the share capital of the company, assuming the exercising of the over-allocation option of 10% of the shares is exercised immediately after approval".
     Investors will need to take into consideration, when making the decision on whether to invest in the IPO, the difference between the company's stock classes.
     The DIGI press release states: "The company has also issued ordinary class A shares, but which are not part of the Offer and which will not be listed.
     Each class B share grants one vote and each class A share grants 10 votes. Class B shares grant the same rights to dividends as class A shares".
     The company is also considering the fact that it will not perform the IPO: "The proposed offer, if it takes place, will consist of an offer: (i) aimed at the Romanian public and (ii) at certain institutional and professional investors and the admission of the Offered Shares on the Regulated Spot Market of the Bucharest Stock Exchange".
     Citigroup and Deutsche Bank act as Joint Global Coordinators and together with BT Capital Partners S.A., BRD - Groupe Societe Generale S.A., Societe Generale S.A., Raiffeisen Bank S.A. and Wood & Company Financial Services, a.s. as Joint Holders of the Subscription Registry.
     DIGI expects the stock to start trading in May 2017.
     * Revenues of 612.7 million Euros, in Romania in 2016
     "For the year which ended on December 31st, 2016, our operations in Romania have generated 612.7 million Euros, or 72.7%, of our total revenues; our operations in Hungary have generated 137.9 million Euros, or 16.4%, of our total revenues; our operations in Spain have generated 83.0 million Euros, or 9.9% of our total revenues; and our operations in Italy have generated 9.2 million Euros, or 1.1%, of our total revenues", the DIGI press release states.
     The company's representatives further state: "Our activity has predominantly seen an organic growth of from approximately 0.7 million revenue generating units (UGV) on December 31st, 2002 to approximately 12.4 million UGVs on December 31st, 2016, during which time we have developed from a cable TV provider to a provider of «multiple play» services, including cable TV, internet and fixed data, mobile telecommunications, fixed telephone and DTH (direct to home) TV services. On December 31st, 2016, we had a total of approximately 12.4 million UGVs, of which approximately 3.3 million were UGVs for cable TV services, approximately 2.5 million were UGVs for internet and fixed data services, approximately 3.9 million were UGVs for mobile telecommunications units, approximately 1.7 million were UGVs for landline telephony and approximately 0.9 million were UGVs for DTH TV services".
     The company provides 5 main services: "Cable TV is our initial line of business. On December 31st 2016, we had approximately 2.9 million UGVs in Romania and approximately 473,000 UGVs in Hungary, for the cable TV services. Cable TV services have generated 25.7% of our total revenues, in the year that ended on December 31st 2016. On that date, our cable TV services, together with our DTH services, had a market share of approximately 49.0% and approximately 25.1% of the markets for subscription TV in Romania and Hungary, respectively (Sources: Statements of the Group and of the companies operating on the same segment, the National Romanian Authority for the Management and Regulation of Communications ("ANCOM"), the National Hungarian Authority for Media and Infocommunications ("NMIAH")).
     Our internet and fixed data services are mainly provided through our FTTB ("Fiber to the Building")/FTTH ("Fiber to the home") networks which use the GPON technology or a comparable technology in Romania and Hungary. On December 31st, 2016, we had approximately 2.1 million UGVs for the internet services and fixed data in Romania and approximately 428,000 UGV in Hungary. The internet and fixed data services have generated 23.9% of our revenues in the year that ended on December 31st, 2016. On that date, our internet and fixed data services had market shares of approximately 48.6% and approximately 15.8% in Romania and Hungary respectively (Sources: Statements of the Group and of the companies operating on the same segment, ANCOM, NMIAH).
     We provide mobile telecommunications services using our 3G and 4G services in Romania, and as MVNO (mobile virtual network operator) focused on the Romanian communities in Spain and Italy. On December 31st, 2016, we had approximately 3.2 million UGVs for the mobile telecommunications services in Romania, approximately 14,000 UGVs in Hungary (where we provide internet and mobile data services as reseller through the Telenor network), approximately 609,000 UGVs in Spain and approximately 86,000 UGVs in Italy. The mobile telecommunications services have generated 25.5% of our revenues in the year that ended on December 31st, 2016. On that date, our mobile telecommunications services had a market share of approximately 11.6% in Romania and relatively small market shares in Hungary, Spain and Italy (Sources: Statements of the Group and of the companies operating on the same segment, ANCOM).
     We provide landline telephony services through our networks in Romania and Hungary. On December 31st, 2016, we had approximately 1.3 million UGVs for landline telephony services in Romania and approximately 353,000 UGVs for the same service in Hungary. Landline telephony services have generated 3.8% of our revenues in the year that ended on December 31st, 2016. On that date, our landline telephony services had a market share of approximately 31.7% and approximately 11.6% in Romania, and respectively in Hungary (Sources: Statements of the Group and of the companies operating on the same segment, ANCOM, NMIAH).
     Our satellite DTH TV services are provided in Romania and Hungary. On December 31st, 2016, we had approximately 641,000 UGV for the DTH services in Romania and approximately 307,000 UGVs for the DTH services in Hungary. The DTH services represented 8.3% of our revenues in the year that ended on December 31st, 2016".
     The company operates in Romania, Hungary, Spain and Italy.
     * RCS & RDS has completed the refinancing of the group, in October 2016, and has listed its bonds in Ireland
     In October 2016, RCS&RDS SA and Cable Communications Systems NV have completed the refinancing of the group through a bonds issue of 350 million Euros and a syndicated loan of up to 1.687 billion lei.
     The bonds issue of 350 million Euros by Cable Communications Systems NV (the parent company of RCS&RDS SA) has a 2023 maturity and an annual interest rate of 5%, according to the company, which further stated: "The bonds issue is guaranteed by RCS&RDS SA. The date of October 26th, 2016 is set as the maturity of the bonds, which will then be admitted for trading on the Irish Stock Exchange".
     Another component of the transaction has consisted of the contracting by RCS&RDS SA of a syndicated loan with a total amount of up to 1.687 billion lei, made up of three credit facilities.
     According to the company, the amounts raised following these two financing operations have been used for the early repayment of the bonds with a total amount of 450 million Euros with an annual interest rate of 7.5% issued by Cable Communications Systems in 2013, as well as of some facilities contracted by RCS&RDS SA in 2015 and 2016, respectively.
     In 2007, "RCS&RDS" intended to get listed on the London Stock Exchange, through global depository receipts (GDR), but scrapped that plan and resorted to bank loans for financing.
     In 2013, "RCS&RDS" succeeded in selling, on the foreign market, bonds with a total amount of 450 million Euros, 100 million Euros more than the initial offer, following significant demand, and the return achieved was 7.5%.
     In 2015, the company posted a loss of 17.9 million lei, down from 71.04 million lei, in 2014, amid turnover of 2.69 billion lei, in 2015, compared to 2.31 billion lei, in 2014. The company's debts amounted to 4.42 billion lei on December 31st 2015.
     The RCS&RDS shareholders are being summoned, on April 26th, to decide the allocation of the profit from the previous years. In 2013, 2014 and 2015, the company posted losses, and the 2016 data has not yet been submitted to the Finance Ministry. 

     Shareholders of Cable Communication Systems N.V. (Olanda): RCS Management SA - 57.87%, Carpathian Cable Investment S.a.r.l. (Luxemburg) - 19.67%, Cable Communications Systems N.V. (Olanda) - 8.17%, Celest Limited (Cyprus) - 5.32%, Teszari Zoltan - 4.60%, Oprea Alexandru - 0.93%, ING Bank N.V. - 0.68%, Tal Joshua Moses Almog - 0.65%, Trumbull Capitol 2 Advisors - 0.58%, Gustav Wurmboeck - 0.46%, Bendei Ioan - 0.38%, Maftei Gheorghe - 0.36%, Jordan Mariuma - 0.34%, according to the CNA.
     The shareholders of RCS Management SA: Teszari Zoltan - 58.9147%, Cable Communications Systems N.V. (Holland) - 9.1735%, Bugarszki Sfetozar - 6%, Schelean Nicușor Dorel - 4.1544%, Bendei Ioan - 4.5098%, Maftei Gheorghe - 4.5098%, Patap Mihai - 4.325%, Docea Maria - 4.3382%, Sirian Radu Traian - 2.1765%, Schelean Dorina - 1.898%. (source CNA on December 15th, 2016)

 
 

 
Readers' comments    [ add a comment ] 
Aceeasi sectiune (English Section)
ONE EURO - ALMOST 4.6 LEI
ROMANIA'S DEVELOPMENT STRATEGY "BETWEEN THE EUROZONE AND THE SIGN OF THE LEU" 3RD EDITION / ADRIAN VASILESCU, BNR:
THE MINISTRY OF ENERGY HAS PROPOSED THE AMENDMENT OF THE LEGISLATION ON SHARE CAPITAL INCREASES WITH THE PLOTS OF LAND CONTRIBUTED BY THE STATE, IN THE PRIVATIZED COMPANIES
FOLLOWING THE ARTICLE PUBLISHED YESTERDAY IN BURSA
Actualitate - vezi toate știrile mai jos.
Internaţional, 20:01
     Astăzi intră în vigoare a patra directivă referitoare la combaterea spălării banilor, care va îmbunătăți transparența pentru a preveni evaziunea fiscală. Aceasta înăsprește normele actuale și va permite combaterea spălării banilor și a finanțării terorismului cu mai multă eficacitate, potrivit unui comunicat trimis de Comisia Europeană.  detalii
Internaţional, 19:50
CURTEA SUPREMĂ:
     Curtea Supremă a Statelor Unite a decis luni punerea parțială în aplicare a extrem de controversatului decret anti-imigrație al președintelui Donald Trump, în așteptarea examinării lui la toamnă, transmite AFP.  detalii
Companii-Afaceri, 19:27
     Deputatul PSD Leonardo Badea a fost avizat favorabil, cu majoritate de voturi, de Comisiile reunite de buget-finanțe, pentru funcția de președinte al Autorității de Supraveghere Financiară, social-democratul afirmând că nu vine la ASF pentru o funcție, ci pentru un proiect în care crede, potrivit surselor din presă.  detalii
Piaţa de Capital, 19:07
     Indicii de pe Bursa de Valori București (BVB) au închis în depreciere ședința de tranzacționare de astăzi.  detalii
Companii-Afaceri, 18:14
     ANCOM lansează astăzi o consultare publică vizând organizarea unei proceduri de selecție pentru acordarea drepturilor de utilizare a frecvențelor radio în benzile noi de frecvențe pentru sisteme de comunicații mobile terestre de bandă largă armonizate la nivel european și în subbenzile de frecvențe rămase neadjudecate în urma procedurilor de selecție, potrivit unui comunicat de presă trimis de ANCOM.  detalii
Ediții precedente
Newsletter Facebook Twitter YouTube LinkedIn RSS
Jurnal Bursier
26.06.2017
BVB / MARCEL MURGOCI, "ESTINVEST FOCȘANI":
     * Indicii au crescut ușor, pe un rulaj de 8,3 milioane euro
       Opt dintre indicii Bursei de Valori București (BVB) au încheiat ședința de tranzacționare de vineri apreciindu-se, în contextul în care a fost înregistrat un volum de tranzacționare de 37,8...  detalii
26.06.2017
BURSELE DIN LUME
     * "Veneto Banca" și "Popolare di Vicenza" vor fi lichidate
       Bursele europene au încheiat în scădere sesiunea de vineri, din cauza sectoarelor auto și alimentar, care au fost afectate de unele date economice din care rezultă că expansiunea regiunii a slăbit...  detalii
23.06.2017
BVB
     * Titlurile "BRD - Groupe Societe Generale", cele mai lichide
       Piața a încheiat, din nou, ședința de tranzacționare în teritoriul negativ, toți indicii Bursei de Valori București (BVB) înregistrând scăderi, în contextul în care s-a înregistrat un volumul de de...  detalii
22.06.2017
     * Aproape 28% din volumul de tranzacționare, realizat pe piața "deal"
       Piața a încheiat ședința de tranzacționare de ieri în teritoriul negativ, toți indicii Bursei de Valori București (BVB) închizând în scădere, pe fondul unui volum de tranzacționare de 62,6 milioane...  detalii
22.06.2017
BURSELE DIN LUME
     Bursele europene au scăzut ieri, trase în jos de randamentele bondurilor.  detalii
21.06.2017
BVB
     * Titlurile "Transgaz", cele mai lichide
       Piața a încheiat ședința de tranzacționare de ieri în teritoriul negativ, opt dintre indicii Bursei de Valori București (BVB) închizând în scădere, pe fondul unui volum de tranzacționare de 49...  detalii
Cotații Internaționale

Prognoza Meteo
Vezi harta temperaturilor
harta temperaturilor
     26.06.2017 
     Prognoza pentru România
     Vremea va fi călduroasă în cea mai mare parte a țării, pe arii extinse în sudul și în estul țării disconfortul termic va fi ridicat, indicele temperatură-umezeală (ITU) va atinge și va depăși ușor pragul critic de 80 de unități, iar în Oltenia, local în Muntenia și izolat în Moldova va fi caniculă. Vor fi înnorări temporar accentuate, averse, descărcări electrice, intensificări ale vântului ce pot lua și aspect de vijelie și izolat grindină, în Maramureș, Transilvania, local în Banat, Crișana, vestul Olteniei și jumătatea de nord a Moldovei. Ploile vor avea și caracter torențial și punctiform se vor acumula cantități de apă de peste 25...30 l/mp.În celelalte zone cerul va fi variabil, iar astfel de fenomene vor fi izolat, mai ales seara și la începutul nopții. Temperaturile maxime se vor încadra între 25 de grade pe litoral și 37 de grade în Lunca Dunării, iar cele minime între 13 și 21 de grade.
     Prognoza pentru București
     Vremea va fi călduroasă, caniculară după-amiaza, când disconfortul termic se va accentua, iar indicele temperatură-umezeală (ITU) va atinge pragul critic de 80 de unități. Cerul va fi variabil, mai mult senin dimineața și în prima parte a nopții. Vântul va sufla slab și moderat. Temperatura maximă se va situa în jurul valorii de 35 de grade, iar cea minimă va fi de 18, 20 de grade.
      
Curs Valutar

Curs valabil din data de 26 iunie 2017
1 Dolar australian...
1 Leva bulgărească...
1 Dolar canadian....
1 Franc elvețian...
1 Coroană cehă...
1 Coroană daneză...
1 Liră egipteană...
1 Euro...
1 Liră sterlină...
100 Forinți maghiari...
100 Yeni japonezi...
1 Leu moldovenesc...
1 Coroană norvegiană...
1 Zlot polonez...
1 Rublă rusească...
1 Coroană suedeză...
1 Liră turcească...
1 Dolar S.U.A...
1 Rand sud-african...
1 Real brazilian...
1 Renminbi chinezesc...
1 Rupie indiană...
100 Woni sud-coreeni...
1 Peso mexican...
1 Dolar neo-zeelandez...
1 Dinar sărbesc...
1 Hryvna ucraineană...
1 Dirham emirate arabe...
1 Kuna croată...
1 Bahtul thailandez...
1 Gram aur...
1 DST...
AUD
BGN
CAD
CHF
CZK
DKK
EGP
EUR
GBP
HUF
JPY
MDL
NOK
PLN
RUB
SEK
TRL
USD
ZAR
BRL
CNY
INR
KRW
MXN
NZD
RSD
UAH
AED
HRK
THB
XAU
XDR
3,0976
2,3383
3,0869
4,2046
0,1742
0,6150
0,2255
4,5733
5,1987
1,4785
3,6629
0,2237
0,4830
1,0858
0,0693
0,4687
1,1643
4,0906
0,3172
1,2237
0,5981
0,0635
0,3597
0,2280
2,9720
0,0377
0,1570
1,1137
0,6171
0,1204
163,3566
5,6426
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
..Lei
click aici pentru cursurile pieței valutare - istoric
English Section
26.06.2017
     * Adrian Vasilescu, BNR: "Veneto Banca România is a subsidiary and is governed by the European passport"
     * Adrian Vasilescu, BNR: "The deposits of Veneto Banca România are insignificant and are not in danger"
     * Intesa Sanpaolo wants to acquire the good assets of the two banks, for one Euro
     --------
        * UPDATE The liquidation of Veneto Banca and Banca Popolare di Vicenza can cost 17 billion Euros
     The italian government will pay to Intesa Sanpaolo 5.2 billion Euros in order to acquire the good...  details
22.06.2017
     The motion of no-confidence did not decapitate the Grindeanu cabinet, because through the mass resignations of its ministers one week ago, all that was left of the Government was precisely the head...  details
21.06.2017
ONE EURO - ALMOST 4.6 LEI
     * The national currency - at its weakest in the last five years
       The National Bank of Romania yesterday announced a reference exchange rate of 4.5957 lei/Euro, the lowest level since August 3rd, 2012, when it stood at 4.6481 lei for an Euro, as, since the...  details
20.06.2017
COUNTRY PROJECT
     * Update 11:56 The deal between the UDMR and the PSD on the vote of no-confidence fell through
     -----------
     For PSD president Liviu Dragnea it isn't enough to turn...  details
19.06.2017
     As Pope of the PSD, Liviu Dragnea has issued a vicious Papal "Bull" whereby he authorizes anybody to obstruct the government and grants anybody the permission to hurt PM Sorin Grindeanu,...  details
17.06.2017
     The global crisis at the end of the last decade has been "resolved" through an unprecedented stimulation of lending, but the turnaround of the real economy, whose sustainable character is...  details
13.06.2017
     The reception of president Klaus Iohannis in the White House in a working visit has been analyzed as a state one, following the good agreement that the two leaders had.  details
08.06.2017
"GOOD LORD. GOOD LORD, GOOD LORD!..."
     * Ioan Bendei placed under court supervision
     * Assets of RCS&RDS worth 13.7 million lei seized
       The National Anti-Corruption Department yesterday announced the placing of Ioan Bendei, vice-president of RCS&RDS under court supervision for offering bribes and complicity to money laundering,...  details
07.06.2017
     A good starting point in analyzing the current domestic politics is the visit of president Iohannis to the United States, which will take place between June 4th and June 10th. It is important not...  details
31.05.2017
GOVERNMENT SOURCES:
     * MFP: "The legislative draft which stipulates the exchange of fiscal information between countries, for a stricter control of the profit of multinationals, will probably be approved in the coming days"
       Most likely this week, the government is set to approve the draft law which, according to the European directive in the sector, provides the exchange of fiscal information between countries, in...  details
26.05.2017
ROMANIA'S DEVELOPMENT STRATEGY "BETWEEN THE EUROZONE AND THE SIGN OF THE LEU" 3RD EDITION / ADRIAN VASILESCU, BNR:
     In 2007, we had a EU-facing strategy, and now we need a Eurozone-facing strategy, said Adrian Vasilescu, strategy consultant with the National Bank of Romania (NBR).  details
24.05.2017
     The public agenda in Romania is dominated by the SIPA scandal, and, more recently, by the activity of the Parliamentary Investigation Commission concerning the presidential elections of 2009. There...  details
24.05.2017
THE MINISTRY OF ENERGY HAS PROPOSED THE AMENDMENT OF THE LEGISLATION ON SHARE CAPITAL INCREASES WITH THE PLOTS OF LAND CONTRIBUTED BY THE STATE, IN THE PRIVATIZED COMPANIES
     * The former head of the privatization department: "OMV needs to bring in to Petrom 12.7 million Euros, instead of 165 million Euros"
     * Veridio reports unclear factors in the draft Government decision drawn up by the Ministry of Energy
     * In November 2016, Petrom still had to obtain ownership certificates for 0.78% of the total plots of land
       After neglecting its own interest for years and despite the warnings of the Court of Auditors, the authorities of the state have accepted the postponement of the share capital increase, with the...  details
22.05.2017
     * Three foreign players - Abu Dhabi Investment Council, VARDE and a Canadian investment fund - are rumored to be interested in Bancpost
      * The bank is also attractive to some lenders operating in Romania
       Aside from the banks in Romania interested in acquiring Bancpost, there are also apparently some foreign entities that have set their sights on Bancpost, according to some market sources. They are...  details
19.05.2017
FOLLOWING THE ARTICLE PUBLISHED YESTERDAY IN BURSA
     BCR yesterday apologized to one of its customers, after BURSA reported that their performing loan with no arrears is registered with the Cadastre Office as having been assigned to a company...  details
.