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ZMOS wants Sk0.5 billion back from state

THE SLOVAK town and village association (ZMOS) is demanding a reimbursement worth Sk0.5 billion (€12.5 million) for spending on construction and maintenance of energy facilities between 1991-2001.

According to laws that were in effect at that time, local authorities had to transfer ownership of energy facilities to state-run energy companies, the stakes of which, however, were later sold to private investors, TASR wrote.

ZMOS proposed that the compensation could come from the privatisation proceeds from the sale of the remaining state shares of the regional energy distributors ZSE, SSE and VSE. Different foreign investors, who hold 49 percent stakes, control each of these companies.

Around 700 local authorities are seeking to be compensated for spending on energy facilities.

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

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