Hidden privatization of bus firms prepared

THE GOVERNMENT is preparing a hidden privatization of the SAD Trenčín and SAD Žilina bus companies through its nominees in the National Property Fund (FNM) executive committee, according to the SME daily.

The FNM executive yesterday supported a plan to transfer all real estate owned by these companies, worth hundreds of millions of crowns, to the SIRS Development firm, a subsidiary of the SIRS company that currently owns roughly 40 percent of the bus firms.

SIRS is headed by George Trabelssie, a business associate of Ján Slota, the chairman of the ruling coalition Slovak National Party (SNS). Meanwhile, the head of the FNM is Peter Šimko, who was appointed to his post by the SNS.

The FNM presidium must now look at the planned transfer before it goes before an extraordinary shareholders’ meeting at the bus companies on March 5.

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