  We combine archival spectral observations of the LBV star V532 (Romano's
star) together with the existing photometric data in the B band. Spectroscopic
data cover 15 years of observations (from 1992 to 2007). We show that the
object in maximum of brightness behaves as an emission line supergiant while in
minimum V532 moves along the sequence of late WN stars. In this sense, the
object behaves similarly to the well-known Luminous Blue Variable (LBV) stars
AG Car and R127, but is somewhat hotter in the minima. We identify about 100
spectral lines in the 3700..7300 Angstrom wavelength range. For today, our
spectroscopy is the most comprehensive for this object. The velocity of the
wind is derived using HeI triplet lines (360+/-30 km/s). Physical parameters of
the nebula around V532 are estimated.
