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IN SHORT BUSINESS

Rusko says SE will not be sold cheaply

ECONOMY Minister Pavol Rusko said on July 6 that there was a possibility that the Slovak power producer Slovenské elektrárne (SE) would not be privatised.

"If potential investors offer a low price for SE, I will recommend the cabinet not privatise the proposed 66 percent of SE shares," said Rusko.

He expects, however, that the investors will offer good prices.

The private news agency SITA wrote that, in Rusko's opinion, the cabinet's support for investors interested in the completion of the third and fourth blocks of the nuclear power plant in Mochovce will increase the price of SE. Rusko also said that three of the potential buyers were willing to complete this power station.

Investors must submit binding bids by July 21.

According to information published in the Slovak press, investors interested in purchasing both the conventional and nuclear assets of SE include the Russian company RAO UES, the Italian group Enel, and the Czech company ČEZ.

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