The state has not yet agreed with Italian Enel to privatization settlement. It is hard to say whether the state uses highly sophisticated tactics, or is just unwilling to help Italians get rid of their stake in Slovenske Elektrarne for a better price.
Exclusive negotiations between Italian Enel and Czech energy group Energeticky a Prumyslovy Holding (EPH) on sale of a majority stake in Slovenske Elektrarne continue. It is not surprising that they have lasted over more than a month. At least one skeleton in the closet from previous years must disturb the new potential investor or a seller. It’s not just any skeleton. This one if about definitive (un)completed privatization which took place almost ten years ago when Italian Enel purchased a 66-percent stake in dominant Slovak electricity producer from the state. It is hard to say whether the state just uses highly sophisticated tactics. Perhaps it is only a mere gleeful unwillingness of the state to help Italians get rid of their stake in Slovenske Elektrarne for a better price. Italians can expect that a new potential investor will reflect this skeleton in the closet in the purchase price which certainly will not reach the level originally expected.
Full Story in Slovak: TÝŽDENNÍK: Taktika, či obyčajná neochota?