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Slovakia wants to buy back privatized share in gas firm

Sahil Nagpal 18 October 2008

Slovakia wants to buy back privatized share in gas firm Bratislava - Slovakia wants to buy back a 49-per-cent share in the country's chief gas supplier SPP from E. ON Ruhrgas and Gaz de France, Slovak Prime Minister Robert Fico said Friday.

The state would pay around 130 billion Slovak koruny (5.7 billion dollars) for the stake.

Slovakia sold the minority stake in SPP in 2002, under the previous government of pro-market premier Mikulas Dzurinda. As part of the deal, the foreign investors received a majority on firm's board.

The leftist premier Fico has threatened to push through legislation that would restore state's control of the board.

Fico, in power since 2006, has recently criticized energy firms for raising prices. (dpa)

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Energy Sector

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Robert Fico

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Slovakia