Romania Pushes Back Deadline In Head Hunter Auction
Romania's Economy Ministry extended until January 20, 2012, the deadline by which head hunters may bid in the auction for the selection of private management at state-owned companies.
In addition, the ministry relaxed the selection criteria in terms of bidder turnover.
Thus, the officials eliminated the criterion whereby all companies in a bidding association needed to have turnovers of at least EUR10 million over the past three years. A new criterion was implemented, saying any association needs to have a total turnover of EUR40 million over the past three years, regardless of the individual turnovers of its associates.
The initial bidding deadline was December 23.
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