BUSINESS IN SHORT

FNM halts ongoing privatization tenders

THE NATIONAL Property Fund (FNM), Slovakia's privatization agency, has postponed the ongoing privatization sales of majority stakes in Slovakia's six biggest heating companies until October 1.

The FNM also halted the sale of the engineering firm DMD Group, as well as minority stakes in several bus companies.

The ruling is in line with a previous government decision to sell no state assets in the period leading up to June elections.

According to the Pravda daily, investors interested in buying the 51 percent stakes in heating companies in Bratislava, Košice, Trnava, Žilina, Martin and Zvolen hope that the new government will complete the transactions. The sales are expected to fetch Sk4-5 billion (€107.8-134.8 million).

While the current ruling parties agree that the sales should be wrapped up after the elections, the Smer and Movement for a Democratic Slovakia opposition parties are keeping their counsel.

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