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Romanian Sell-Off Set
05 July 1994
BUCHAREST -- An agency managing most of Romania's privatization scheme said that by mid-July it would complete selection of 3,000 state enterprises for sale this autumn as part of a mass state sell-off. "By July 15, the State Ownership Fund (SOF) will have shortlisted 3,000 state-run companies to go private starting September and some of their shares will be swapped for ownership vouchers," the spokesman Marin Badea said. He said the SOF was selecting the 3,000 companies together with Romania's five Private Ownership Funds, or POFs, and that the main selection criterion was profitability.
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