The state's three-year foreign market funding programme wortharound 7 billion euros is on the finishing straight after theFinance Ministry hired law firm consortium formed of local firmRadu Tărăcilă Pădurari Retevoescu and British group Allen&Overyto provide legal assistance.
The mandate was won following a second tender, after the first waschallenged by one of the participating consortia. So, as the sayinggoes "when two fall out, the third wins", the initial winner hadbeen announced in October as Bulboacă & Asociaţii in consortiumwith Slaughter and May, with the result being challenged by DLAPiper - the Romanian office in consortium with the London one, andnow the three-year legal assistance contract has been secured byRadu Tărăcilă Pădurari Retevoescu and Allen&Overy. The FinanceMinistry could seek to borrow from the foreign market in the firstquarter of next year, especially if the tranches from the IMF andthe EU expected in January are postponed.
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