ADVERTISEMENT

Romania to clarify CEC Bank sale contract before final bids

History

The commission, headed by Finance Minister Sebastian Vladescu, will seek decisions from the government concerning „certain clauses” of the contract to sell a 70% stake in the state-owned Casa de Economii si Consemnatiuni SA bank that's also known as CEC, the finance ministry said yesterday in an e-mailed statement in Bucharest. „The date for final, improved offers will be decided after the contract is finalized,” the ministry said in its statement, without elaborating on the specific clauses. Vladescu told Bloomberg in an interview on September 29 that Romania would on October 5 announce the deadline for final bids for CEC.  National Bank of Greece SA and Hungary's OTP Bank Nyrt are competing to buy CEC, Romania's last state-owned bank for sale. (Bloomberg)

ADVERTISEMENT

IMF raises Hungary 2021 GDP growth forecast to 7.6% Analysis

IMF raises Hungary 2021 GDP growth forecast to 7.6%

Parliament approves amendment to Competition Act Parliament

Parliament approves amendment to Competition Act

New CEO announced at Codic Hungary Appointments

New CEO announced at Codic Hungary

Budapest bike-sharing scheme boasts record ridership City

Budapest bike-sharing scheme boasts record ridership

SUPPORT THE BUDAPEST BUSINESS JOURNAL

Producing journalism that is worthy of the name is a costly business. For 27 years, the publishers, editors and reporters of the Budapest Business Journal have striven to bring you business news that works, information that you can trust, that is factual, accurate and presented without fear or favor.
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.