Spectator on facebook

Spectator on facebook

SPP sale enters next phase

Nine companies have advanced to the next phase in the privatisation of a 49% stake in gas utility SPP - performing a thorough audit and checking SPP data prior to submitting bids, a process known as due diligence.

The steering committee for the sale made the announcement October 26 but refused to name the companies involved.

Advisors to the government on the sale, Credit-Suisse First Boston, have said the nine companies include the biggest players in the gas market.

Two consortia have already come out as ready to battle for the share - Ruhrgas, Gaz de France and Snam have lined up against RWE Gas and Wintershall Gas - and domestic analysts are predicting a fierce fight for the stake. Russian giant Gazprom has also said it is interested.

The state's stake is expected to bring in as much as $3 billion to the state's coffers. The firm is the world's second largest gas distributor and has been valued at $8 billion for the privatisation.

Top stories

Camping in a tree? Try it in Bratislava

A creaking wooden floor and the wind swaying the branches of trees around you. Have you ever wondered how it would feel to spend a night in a tree house?

The tree-house at Kačín

Wizz Air: Luggage changes have to wait until we train our staff

Clients of the Wizz Air airline will no longer have to pay for bigger hand luggage with a new service to be launched in late October.

Auto sector could learn from Austria

New fields are an opportunity

Hold onto your hats - heavy storms in Slovakia continue

Summer storms cause property damage, destroy gardens and possibly the harvest