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Kažimír corrects Pavlis on money from Slovak Telekom sale

REVENUES from the sale of the state’s 49-percent stake in Slovak Telekom (ST) will be used mainly to reduce the state debt, Finance Minister Peter Kažimír has said in reaction to statements made by Economy Minister Pavol Pavlis.

REVENUES from the sale of the state’s 49-percent stake in Slovak Telekom (ST) will be used mainly to reduce the state debt, Finance Minister Peter Kažimír has said in reaction to statements made by Economy Minister Pavol Pavlis.

Pavlis claimed on public broadcaster RTVS politics show Sobotné Dialógy (Saturday Dialogues) on September 27 that the 66-percent stake in energy utility Slovenské Elektrárne (SE) currently owned by the Italian Enel group could be purchased with the money acquired by the privatisation of the 49-percent stake in ST, the TASR newswire reported on October 2.

“I believe that if we sell Telekom, the best solution will be to use the money to purchase SE,”
Pavlis said, as quoted by TASR.

This did not sit well with Kažimír.

“As finance minister I must say that I’ll insist as a priority that the revenues in question are used for debt reduction, just as is projected in documents such as the Stability Programme. That's a government plan, not my idea,” Kažimír said, as quoted by TASR.

The finance minister called the notion of using money from the sale of ST to buy shares in SE as “dividing up the hide of a bear that’s still roaming the woods”.

“The government, Minister Pavlis and I - all of us will be glad if we manage to sell the stake in Telekom for the highest price possible,” Kažimír added, as quoted by TASR.

(Source: TASR)

Compiled by Roman Cuprik from press reports
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