By Iulian Ernst in Bucharest Shareholders of Fondul Proprietatea decided on February 13 to reject a proposal made by the fund’s manager Franklin Templeton to sell stakes in the national salt company Salrom, the Bucharest Airports company and Constanta port. The Romanian government, a shareholder in Fondul Proprietatea, has a fundamentally different approach to Franklin Templeton. The fund manager’s policy is to bring Fondul Proprietatea’s price in line with the value of its portfolio and cash the portfolio as close as possible to its value. Meanwhile, the Romanian government wants to turn Fond…
