Govt. to Invite Applications for Financial Adviser for Third Stage of HT Privatization

The Croatian government plans to invite applications for a financial adviser for the third stage of privatization of Croatian Telecom (HT), which is expected to be completed by the year's end.

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

Sanader recalled that privatization 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 privatization because funds for the payment of the first debt installment had been secured.

Finance Minister Ivan Šuker, a member of the government commission in charge of HT privatization, 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 privatization models, and it has done a good job, Šuker said.

The government also set up three working groups to propose models for the privatization 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 privatization of the hotels "Liburnija" in Opatija, "Jadran" in Crikvenica and "Imperijal" in Rab should be proposed by the end of May. (Hina)

News from media