ZAGREB, Aug 13 (Hina) - Unions in Croatia Post (HPT) will advise employees not to purchase shares under extremely unfavourable conditions that the government recently agreed to with unions outside HPT, the president of the Republic
Union of HPT Employees Jadranko Vehar announced on Tuesday.
ZAGREB, Aug 13 (Hina) - Unions in Croatia Post (HPT) will advise
employees not to purchase shares under extremely unfavourable
conditions that the government recently agreed to with unions
outside HPT, the president of the Republic Union of HPT Employees
Jadranko Vehar announced on Tuesday. #L#
If the Government does not back down from its proposal, we will
advise employees not to buy shares, he said at a news conference.
According to the HPT union, employees would pay 3,500 euros more for
shares that was agreed to with the previous government back in
1998.
The disputable condition to purchase shares in public companies was
agreed to between the government and the Matrix of Public Service
Unions and the Croatian Association of Unions, union federations
that remained in the "Partnership for Development" pact.
Vehar claims that the agreement foresees that employees could
purchase shares that are valued at about 10,135 euros with a 25 per
cent discount and would be required to pay 7,600 euros instead of
4,000 euros as agreed to in an annex on an agreement on the
privatisation of HT which was signed by the previous Croatian
Democratic Union (HDZ) government in 1998.
He estimated that the difference in price would negatively affect
the employees and that the government intended to fill budget
holes.
Vehar believes that the proposed price of 34 euros per share is
overestimated, and demands that the shares be released on the stock
market so that their true value could be estimated.
(hina) sp ms