Spectator on facebook

Spectator on facebook

Brussels approves Enel deal

THE EUROPEAN Commission (EC) approved the purchase of Slovak power producer Slovenské elektrárne (SE) by Italian energy company Enel.

According to the EC the activities of Enel and SE do not overlap and the acquisition should not prevent economic competition in the European Economic Area, the SME daily wrote.

Enel and Slovakia signed the privatization contract on the sale of a 66 percent stake in SE to Italians on February 17 this year. Enel will pay €840 million for the majority stake. Currently Enel is working on meeting Slovakia's 16 conditions to take over SE, including the preparation of an investment plan and the exclusion of A1 and V1 power plants from the SE structure. The process should be completed by June 30, 2005.

After all conditions are met the so-called closing phase will start and when that is completed, Enel will definitively enter the SE. According to Slovak Economy Minister Pavol Rusko, this will happen in the second half of 2005.

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

Top stories

Transport bothers Bratislava Region

The smallest region in Slovakia has several specifics affecting various fields that will have to be addressed by respective regional authorities.

Candidates for the post of Bratislava Region's governor attending the discussion organised by the Sme daily (l-r): Juraj Droba, Milan Ftáčnik, Rudolf Kusý and Pavol Frešo.

Robert Fico is not Saddam Hussein

It would take too long to list all the crazy distortions the international media presented about Central Europe and the Czech election campaign this week.

Babiš

Babiš did not re-write the past

Constitutional Court decided in favour of National Memory Institute which included Andrej Babiš in its list of communist secret service confindants.

Slovak-born Czech Finance Minister Andrej Babiš

Red tape worsens Slovakia’s competitiveness

Entrepreneurs complain that needless bureaucracy discourages them from further investments and growth.

Foreign investors said they would welcome less bureaucracy in Slovakia.