The Romanian state's stake in Fondul Proprietatea (PropertyFund) fell to 53.8% at the end of June, and it is becomingincreasingly more likely that the state will no longer be amajority shareholder in the region's most extensive investmentproject, with 3 billion euros in assets. Over the past year, thestate's stake has diminished by 12%, from 65.8% to 53.8% atpresent.
Set up in 2005 in order to compensate people whose properties wereseized by the communist regime, the Property Fund was originallyfully owned by the Romanian state, with the beneficiaries receivingFP shares as compensation for the lost properties.
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