Well it looks like it is official now, Citibank is the appointed investment bank to take charge of finding a buyer for Cosmorom. Quick facts as a reminder: Cosmorom has operating losses of about EUR 7m, and declining market share of about 85000 customers in a 9 mil. potential clients market. According to Dan Nica, the Romanian communications minister, Cosmorom needs between 100 million and 150 million euros to extend its coverage from 53% to 80-85%  of the country to match rival networks. Nevertheless, here is what Nic Oaca, a communication industry analyst, in a message from Romania Economics says:

"CosmoRom needs much more than E150m to have a good coverage to compete with GSM90 operators. GSM operators invested more than $750m each for a 96% pop coverage, while Cosmorom...Do not forget using upper frequency band is more expensive (antennas ..) Maybe E150m could help CosmoRom to repay debts. CosmoRom is to be bought, but expensive to renovate..."

I am always overwhelmed by the Romanian officials' optimism.