The Russians have failed to sell ALRO's majority stake in Finance & Banking

The Russians did not sell the Alro shares as part of the offer because "no price agreement was reached", according to a company announcement published on the Bucharest Stock Exchange (BSE). The offer ended yesterday after being extended for three days and the shareholders lowered the price and offered a discount.

"ALRO and its shareholders, Vimetco NV and Conef SA, announce that no price agreement has been agreed between the company, the shareholders and the coordinators as part of the public offer secondary shareholder initiated shares for a package of 383,791,140 shares issued by the company and, as a result, the conditions of success of the offer were not fulfilled.

the company, the main purpose of the company and its shareholders was to create value for shareholders by increasing the percentage of shares freely traded to better reflect the real value of the company in the course of ALRO. ALRO shares and shareholders remain committed to doing so

"Unfortunately, due to adverse conditions the market and the company and shareholders do not consider that the offer has ultimately been an opportunity to this, "said l a source.