ZAGREB, April 29 (Hina) - Deputy Prime Minister Andrija Hebrang announced on Thursday that the second stage of privatisation of the INA oil company would be postponed for a year.
ZAGREB, April 29 (Hina) - Deputy Prime Minister Andrija Hebrang
announced on Thursday that the second stage of privatisation of the
INA oil company would be postponed for a year.#L#
"The privatisation of INA must continue, but its pace, decided by the
previous government, is not good. We think that at this point we would
not get a good price," Hebrang told reporters. "We will wait for the
price to go up," he added.
The previous government set May 10 this year as a deadline for
inviting bids for the purchase of 15 per cent of the company's
shares.
Hebrang said that amendments to the INA Privatisation Act were being
drafted to deal with the issue of extending the deadline. The
amendments also provide for the allocation of seven per cent of the
shares to Croatian war veterans and the sale of seven per cent of the
shares to present and former employees of INA under favourable
conditions.
(Hina) vm