Spectator on facebook

Spectator on facebook


VSŽ probe called off

AN INVESTIGATION into the shadowy sale of shares in former steel maker VSŽ last December has been called off due to what police say is a lack of evidence of insider trading.

Since February, officials from the Bratislava Regional Investigation Office have been examining records on the trade from the Finance Ministry, the Bratislava Stock Exchange and the regulatory Financial Markets Office, based on complaints of non-transparency and insider trading.

Late last December, in the final two hours of trading for 2001, a 21 per cent stake in VSŽ was sold from oil pipeline operator Transpetrol, then operating under the Economy Ministry, in an anonymous trade on the Bratislava exchange, eventually ending up on the books of corporate raiders Penta Group, Istrokapitál and J&T.

In the deal, which raised local and international outcry and calls for the resignation of Economy Minister Ľubomír Harach, Penta and associates paid Sk160 per share, while VSŽ itself claims to have offered Sk200 per share. Transpetrol had originally paid Sk206 per share.

The Bratislava Regional Prosecutor's Office has yet to examine the investigators' decision.

Top stories

It's not your Slovakia, Bystrica protesters told Kotleba

President Andrej Kiska spoke to the crowd at the protest gathering, asking Slovaks what kind of country they want to have.

Lajčák gives two versions of the Evka story

The Foreign Ministry gives opposing statements about suspicious procurement related to the Slovak Presidency over the EU Council.

Government of PM Robert Fico (left) endorses Lajčák as its official candidate.

PM Fico: Investors should clearly declare whether they have encountered corruption or not

Representatives of the biggest investors in Slovakia met with Fico to discuss the local business environment.

PM Robert Fico meeting with representatives of big investors in Slovakia.

Blog: HR Marketing: Not everybody can be Google!

It is important to know who your target audience is and the position you aspire to achieve as an employer on the market.

Illustrative stock photo