CEC Bank minority sale tipped for 2011
Minister of Public Finance Sebastian Vladescu plans to sell five per cent of state savings bank CEC on the Bucharest Stock Exchange (BVB) September 2010 - From the Print Edition
In an interview with Bloomberg cited by the local media, Vladescu said the selling of CEC Bank could start next year, with a five per cent minority share package.
In 2006, during his first term as Finance Minister, Vladescu launched the sale of 69.9 per cent of CEC Bank’s shares.
At that time the National Bank of Greece and Hungarian OTP Bank submitted offers, but the process was abandoned as the authorities could not agree on a final price.
In July, Minister Vladescu also talked about the possibility of selling a minority package of shares held by the Ministry of Finance in the Romanian Lottery.
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