Romanian Youth Voice

Franklin Templeton buying Petrom shares in bulk

The value of OMV Petrom shares purchased by the administrator of Fondul Proprietatea (FP), Franklin Templeton Investments, on behalf of investment funds other than FP, amounted to over RON 3.7 M (over EUR 900,000) this month alone and to RON 1 M in the course of last week, Money.ro reports.

Fondul Proprietatea reached the maximum limit of Petrom shares it can own. For this reason, the funds managed by Franklin Templeton Investments “might take part in the secondary bid in which the Government will sell some of the OMV Petrom shares. We are considering this opportunity,” Mark Mobius, the executive chairman of the Templeton Emerging Markets Group, which administrates FP, stated recently.

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03.06.2011. 18:00

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