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Erste agrees with disclosure of SLSP contract

AUSTRIA's Erste Bank has accepted the Slovak Finance Ministry’s plan to disclose the contract on the sale of the country's largest bank, Slovenská sporiteľňa (SLSP), the ministry told the news wire TASR.

The permission came following a call from Slovak ministries to strategic investors to allow for the disclosure of conditions laid down in privatisation deals.

The process was set in motion by controversy surrounding the state’s allegedly disadvantageous position in its contract with the South Korean carmaker Kia for a factory near the northern town of Žilina.

Although the Austrian investor asked for the confidentiality clause to be maintained on several sensitive issues, like the status of pending trials, other sections of the contract would be available to the general public as early as late August.

The ministry has also contacted the owner of VÚB, Italy's IntesaBCI bank, and Hungary's OTP bank, which bought the former IRB.

Compiled by Beata Balogová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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