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Weekly Lists
April 13, 2017 www.intellinews.com I Page 22
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Romanian anti- corruption prosecutors start new investigation in "Microsoft case"
Romania’s National Anticorruption Directorate (DNA) has started a criminal investigation into five people suspected of corruption in a new case related to the acquisition of Microsoft licences, the direc- torate announced on April 10. In addition, it has asked for the presi- dent’s approval to start a new corruption investigation into former Communications Minister Gabriel Sandu, who is already in prison for abuse of office. The damages estimated in the case amount to more than €50mn.
The Microsoft case is one of the largest corruption cases in Roma- nia, with nine former ministers already charged with corruption.
It involved large bribes given in the process of acquiring Microsoft licences by state institutions. Gabriel Sandu, former Piatra Neamt mayor Gheorghe Stefan, property tycoon Dorin Cocos and business- man Dumitru Nicolae have already been imprisoned.
Sandu, who served as communications minister between Decem- ber 2008 and September 2010, was sentenced in March last year to two years in prison for bribe taking and money laundering in anoth- er case related to the acquisition of Microsoft licences. In October last year, the high court increased Sandu’s sentence to three years in prison.
Romanian diversified telecom operator RCS & RDS will sell up to 25% of its shares in an IPO scheduled for this May.
The value of the company is evaluated at €1.5bn-2bn, so the IPO size is consequently expected at €500mn-600mn. It would follow the December 2016 IPO of healthcare provider Medlife, the first of a Romanian private company since the onset of the global financial crisis.
The shares will be class B, which gives owners a full dividend but only one voting right per share (as opposed to 10 voting rights to class A share owners), economica.net reported, quoting Dutch- registered parent company Digi Communications.
Digi Communications, formerly Cable Communications Systems, owns 95.79% in RCS & RDS, the Romanian company that owns in its turn other companies of the group, Bursa daily specified. Bursa daily comments, however, on the vague note of the press release, expressing doubts about the feasibility of such a quick IPO.
Romania’s independent telco RCS & RDS aims to be listed in May