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Investigation could invalidate SPP purchase

On January 21, the Sme daily reported that the government’s recent analysis of gas utility SPP’s privatization indicates that the sale of its 49-percent stake in the company was invalid.

On January 21, the Sme daily reported that the government’s recent analysis of gas utility SPP’s privatization indicates that the sale of its 49-percent stake in the company was invalid.

The daily continued that parliament will be told this month that an expert should have evaluated the value of the assets before the contract was signed, and that fact that one wasn’t could mean the deal was invalid. Legal expert Radovan Pala said this could result in the state still owning 100 percent of SPP’s shares.

The daily also said the government’s analysis went as far as to cast doubt on other privatizations. But the SITA newswire quoted opposition deputy Lucia Žitňanská (SDKÚ-DS) as disagreeing with the analysis, saying that Slovak law only protects creditors and shareholders from owners who strip company assets, which was not the case with SPP. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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