I am trying to remain serious, despite the fact that I am about to burst into laughter, even though I respect Mrs. Ileana Botez (we go back quite a bit).
What does "There is a clear separation between the entities of BCR, ..." mean -?
How would she know?!
Does she work for BCR?
I've checked the signature twice to make sure that the letter came from the Stock Exchange, rather than from BCR.
How would the Communication Director of the Stock Exchange know how the BCR Group is organized?!
The communications director of BCR could speak about the "very clear separation between the entities of BCR", but not the one from the BSE.
On the contrary, the communications director of the BSE can only speak about the acting in concert of BCR (as a member of the underwriting consortium of the Romgaz IPO), BCR Pensii (BCR holds 99.99%) and the market operator called the Bucharest Stock Exchange, whose chairman - who is none other than Lucian Anghel - is also the CEO of BCR Pensii (the private pension fund arm of BCR).
The law that defines this relationship as "acting in concert" is precisely the law 297/2004 concerning the stock market.
Since the law was published in the Official Gazette no. 571/29.06.2004, anybody can see that there is a legal definition for that type of situation, contrarily to the statements of Mrs. Ileana Botez.
I think that in Lucian Anghel's mind, things aren't as clear as Mrs. Botez claims they are.
Anghel was chief-economist and executive director of the strategy and research department of BCR, member on the Board of Directors of Erste Asset Management and BCR Asset Management and is now the president of BCR Pensii, so that the separation between them feels like more like communicating vessels.
The man only knows one thing- BCR.
And because of that, I suspect that whatever else it ma
