Agence France-PresseOctober 14, 2013 17:32
The privatisation of Romania's freight rail company, a key commitment to the IMF, failed Monday, with the government and the would-be buyer blaming each other for the breakdown.
Romanian transporter Grupul Feroviar Roman (GFR), which in June was declared winner of the tender, had until Monday evening to pay 202 million euros ($274 million) for a 51-percent stake in CFR Marfa.
"The deadline has expired and GFR has not come up with the money," Transport Minister Ramona Manescu told a press conference.
She added a new tender would be launched soon.