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Cargo sale - two bidders out

THE FIGHT for the 100-percent stake in Slovakia's railway cargo transportation company, ZSSK Cargo Slovakia, is heating up. In June 2005, 14 companies submitted preliminary bids for the profitable firm, and eight were shortlisted.

According to the Hospodárske noviny business daily, unofficial information now suggests that two of them, as yet not named, will not submit binding bids, which are expected by January 20. The privatization advisor PricewaterhouseCoopers does not expect the lower number of bidders to have a negative impact on the purchasing price.

Slovakia wants to gain Sk15-20 billion (€383-510 million) from the sale. The money will be used for the elimination of debts of the passenger railway transportation company ZSSK and railway network operator ŽSR.

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