Basescu: Attempt to sell Petrom shares, a failure, but Romania cannot afford to sell them anyhow

President Traian Basescu believes the recent attempt to sell a stake in the Petrom oil corporation by a secondary offering was a failure, insisting that Romania cannot afford to sell the shares anyhow, but for a fair price.'This was a market failure. To us, it was not what we wished for, but it was the right solution. I have seen public debates on what the selling price should have been. I can tell you that consultants recommended us to sell a share for RON 0.33, at which the ...

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