Spectator on facebook

Spectator on facebook

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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How rock music helped bring down the totalitarian regime Video

A new film shows that Rock & Roll, forbidden in the Soviet Union, helped to end the Cold War.

Illustrative Stock Photo

Movies under an open sky feel differently than in an air-conditioned cinema Photo

The popularity of outdoor cinemas is increasing in Bratislava

Bažant Kinematograf on the Magio Pláž beach

Peter Sagan announces split with his wife Katarína

The Slovak cycling star who has a young son said “It will be much better this way”.

Peter Sagan marries Katarína, November 2015.

Top 3 news from Last Week in Slovakia Video

Slovakia to buy 14 American fighter jets.

This archive picture from 2014 shows an older model of the F-16 fighter jets.