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

News digest: Vaccine mandate not on the table right now

Omicron wave gains strength. Parliamentary committee to discuss Russia-Ukraine situation. Disney+ coming to Slovakia.


55m
Illustrative stock photo

Slovak, Catholic, and ageing. But some of the 2021 census is a surprise (+graphs)

The data also revealed that almost 4 percent of inhabitants were not born in Slovakia.


25. jan
Illustrative stock photo

Omicron send thousands of uninfected students and their parents into quarantine

A shorter quarantine period for schoolchildren could reduce the shortage of parents.


8 h
The three largest banks in Slovakia will launch instant payments on February 1 of this year.

Money in your account in seconds. Instant payments are about to become reality

Three Slovak banks will launch instant payments on February 1.


9 h
Skryť Close ad