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Jahňátek favours buying back Transpetrol shares

ACCORDING to new Economy Minister Ľubomír Jahňátek, one of his ministry's priorities in the coming term will be the energy sector, and in particular the disposal of a 49-percent stake in the Slovak oil distribution company Transpetrol.

Jahňátek, a nominee of the socialist Smer party, was speaking on July 7, shortly after Prime Minister Robert Fico installed him in his new post.

The new minister favours the option of buying back the 49-percent Transpetrol stake, which is currently owned by the troubled Russian oil company Yukos.

According to Fico, the state still has relatively important shares in companies of strategic importance to the economy. "The government that I lead will not continue with their privatisation," he said, adding that his government acribed particular importance to the energy sector.

"We need to take all necessary steps to complete the third and fourth reactor blocks at the Mochovce nuclear power plant," Fico said.

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