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CORPORATE NEWS

OTF sold off to firm's j.s.c.

The state privatization agency Fund for National Property (FNM) sold 34.64 percent in OTF, a TV set producer located in Nižna, to an employee joint-stock company named OTF-ZAM Nižna for 24 million Sk, FNM officials announced. OTF's registered capital is 895 million Sk. Other shareholders in the company are small shareholders (47 percent ownership) the PSIPS investment fund (14 percent) and 30 other investment funds with small stakes. OTF-ZAM's structure is 66 percent owned by OTF managers, with the remainder owned by employees.

The direct sale will result in simplified management at the firm, according to OTF's director, citing that before the sale, important company decisions had to be approved by the Fund. OTF will lose slightly more than its estimate of 100 million Sk, according to company executives. The firm lost 182 million Sk in 1994 and 154 million Sk in 1995.

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Slovak customers still waiting to find out how mobile operators will implement change.

Archaeologist pieces together early history of what is now western Slovakia Photo

For an archaeologist, the most important thing is his most recent rare discovery, says Július Vavák.

Students visited Svätý Jur as part of their European Wanderer project

How to sell Slovak books to English readers

Slovak literature makes it to the big bookstores of London, but it is unlikely to become a bestseller yet.

On Wednesday, Slovak literature will be presented in one of the biggest bookstores in London. Among the new books translated into English is also the anthology of current Slovak prose selected and translated by Magdalena Mullek and Júlia Sherwood.

General Prosecutor filed a motion for the dissolution of ĽSNS

The Slovak Supreme Court received a motion to dissolve the extreme right ĽSNS party founded and led by Marian Kotleba.

Jaromír Čižnár