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Gov't to invite applications for financial adviser for third stage of HT privatisation

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ZAGREB, March 16 (Hina) - The Croatian government plans to inviteapplications for a financial adviser for the third stage ofprivatisation of Croatian Telecom (HT), which is expected to becompleted by the year's end.
ZAGREB, March 16 (Hina) - The Croatian government plans to invite applications for a financial adviser for the third stage of privatisation of Croatian Telecom (HT), which is expected to be completed by the year's end.

"We don't want a speedy privatisation, but to achieve the best possible price," Prime Minister Ivo Sanader said at a government session on Thursday.

Sanader recalled that privatisation proceeds would be used to cover the debt to pensioners, with the first payments to be made in late June. He said that there was no need to rush the third state of privatisation because funds for the payment of the first debt instalment had been secured.

Finance Minister Ivan Suker, a member of the government commission in charge of HT privatisation, said that in view of a changed situation on the market it was important to determine the true value of HT, so that the government could decide on the percentage of shares to be offered for sale.

Over the last year and a half, the consulting firm JP Morgan has been responsible for issues relating to the dividend and possible privatisation models, and it has done a good job, Suker said.

The government also set up three working groups to propose models for the privatisation of three hotel firms, the construction of a liquefied natural gas terminal and the restoration of protected monuments in the northern seaport of Rijeka.

A model for the privatisation of the hotels "Liburnija" in Opatija, "Jadran" in Crikvenica and "Imperijal" in Rab should be proposed by the end of May.

(Hina) vm

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