Spectator on facebook

Spectator on facebook


President Schuster briefed on VSŽ by Július Rezeš Jr.

After a September 14 meeting with Július Rezeš, ex-president of steelmaker VSŽ, President Rudolf Schuster said he believed that the company could be saved by domestic sources alone. He said he had been told by Rezeš that VSŽ did not need a foreign capital entry, although new loans would be required.

Schuster said that he would submit these views to Privatization Minister Mária Machová, who is responsible for co-ordinating a decision on the future of the east Slovak steel giant.

A special meeting of VSŽ shareholders has been scheduled for September 22. The meeting will decide whether or not to recall current VSŽ President Gabriel Eichler, and will vote on the 'stabilisation agreement' that has been arranged between the creditors and shareholders of the troubled steelmaker.

Rezeš told Schuster he was interested in finding agreement with all shareholders, foreign as well as domestic, on the future of the firm.

The meeting between the two men had been requested by the former VSŽ president.

On September 16, Schuster met representatives of US Steel, which has a joint venture with VSŽ and which at one time was the hot favourite to make a strategic capital entry into the company.

In early September Schuster met with Jaroslav Gruber, boss of the Hutník company which owns a 10% stake in VSŽ. It was at Gruber's request that the September 22 shareholders meeting was called.

Schuster has also met Eichler, as well as members of the VSŽ board of directors who resigned from their posts in early August.

Top stories

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

Slovakia vies for medicines agency

What chances does the country have at winning the seat of the prestigious European Medicines Agency that needs to relocate from London?

Illustrative stock photo

Vote-buying scandal lands village mayor in court

Some Roma claiming the mayor of Gemerská Poloma, Miroslav Michalka was buying votes, have changed their testimonies.

Stanislav Kučerák (blue shirt) is a key witness in the vote-buying case.

British embassy opens condolence book

The book will be opened for two days.

Floral tributes are laid out in Manchester, England, on May 23, 2017, the day after the suicide attack at an Ariana Grande concert that left 22 people dead as it ended on May 22 night.