FNM offers VSŽ stake for sale

THE FNM state privatisation agency has announced it wishes to sell its 16 per cent stake in steel maker VSŽ. US Steel Košice, which bought VSŽ's former core business in 2000, has expressed interest in the stake, but has offered only Sk160 per share, the same price the Economy Ministry sold a larger stake at the end of 2001 to a bloc of firms around corporate raiders Penta Group. US Steel now controls a 24.5 per cent stake in VSŽ, while the Penta unit holds about 27 per cent.

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