Quote of the week


"The historical situation now requires that we create a layer of domestic businessmen, and to divide between them and other citizens the property which they built up through their own work."

Then-Prime Minister Vladimír Mečiar, explaining in 1995 his government's privatisation strategy, which involved preferring domestic over foreign buyers of state property. In line with this policy, in 1995 a management company called Slovintegra bought a 39% stake in the Slovnaft refinery for one billion crowns, or $3.6 (155 crowns) per share.




"From our perspective this is a very good price."

Slovnaft President Slavomír Hatina, a Slovintegra shareholder, commenting on April 3, 2000 on the sale of a 36% stake in Slovnaft to the Hungarian MOL for 11.3 billion crowns, or $36 (1,561 crowns) per share.


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