SPP sale contract signed

A SALE contract for a 49 per cent stake in gas utility SPP was signed March 18 between the Slovak government and a purchasing consortium of Gaz de France, Ruhrgas and Gazprom. While the first two firms will be splitting the price between them, allegedly because of cash-flow problems at Gazprom, all three will have equal say in the running of SPP. The $2.7 billion the state earns on SPP is $350 million more than privatisation advisor predicted in sale documents the company might fetch.

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