Spectator on facebook

Spectator on facebook

More profit to come from VSŽ

A shareholders meeting at steel firm VSŽ elected a new supervisory board yesterday, with a trio of financial groups – J & T, Penta Group and Istrokapital – inserting their candidates on the new board. The three firms collectively acquired a 26.55 per cent stake in VSŽ in a non-transparent deal in the last hour of trading on the stock exchange last year. They have promised to squeeze more profits out of VSŽ in the three to five years they intend to hold the shares, and to put more of their people in key VSŽ positions, including the president’s chair. By lowering VSŽ’s basic capital by Sk10.8 billion to Sk5.6 billion to cover Sk9.6 billion in VSŽ losses from previous years, the shareholders also removed a legal barrier to VSŽ’s paying out dividends.

Compiled by Tom Nicholson from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Night life in Bratislava will not end

Councillors for the Old Town adopt new opening hours for pubs, night clubs and restaurants.

Cvernovka's creative talents celebrate first open day at new premises Photo

Bratislava's art and design ateliers from the old yarn-making factory open their doors on May Day.

New premises for Cvernovka

How social networks can earn you a ticket to Germany

Can a status on a social network change someone’s life? Yes, if you write humorous stories about a fictive German ambassador.

Assaf Alassaf (r) talked about his life and his book in Bratislava

New investor to create 500 jobs in Nitra

A company following the Jaguar Land Rover carmaker to Nitra plans to create 500 new jobs and invest €17 million.

Tha Jaguar Land Rover draws also other investors to Nitra.