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FNM prepares to close

The National Property Fund (FNM), which was set up in the 1990s to hold shares in Slovak state assets and manage various privatisations in the post-communist period, is preparing to terminate its activities by 2014, the TASR newswire reported.

The National Property Fund (FNM), which was set up in the 1990s to hold shares in Slovak state assets and manage various privatisations in the post-communist period, is preparing to terminate its activities by 2014, the TASR newswire reported.

“The FNM has already prepared the sequence of steps and measures that are inevitable in connection with this process,” said Miroslav Homola of the FNM, as quoted by TASR.

The abolition of the FNM is part of the government’s programme statement. Before it is closed down, the FNM has to finalise the privatisation of non-strategic companies, as well as to deal with the securities in former state companies transferred to it by members of the public. At the moment, FNM owns shares in more than 700 companies.

Source: TASR

Compiled by Radka Minarechová from press reports
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