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

Stock image.

Twice as many Ukrainians work in Slovakia now than before the Russian invasion.


Píšem or pišám?

"Do ľava," (to the left) I yelled, "Nie, do prava" (no, to the right), I gasped. "Dolšie," I screamed. "Nie, nie, horšie..." My Slovak girlfriend collapsed in laughter. Was it something I said?


Matthew J. Reynolds
Czech biochemist Jan Konvalinka.

Jan Konvalinka was expecting a pandemic before Covid-19 came along.


SkryťClose ad