The Czech Respekt news weekly reports in its current issue that the Anti-Monopoly Office will not approve the sale of the state’s controlling stake in Unipetrol to Agrofert, the tender winner. The report was denied by Agrofert CEO A. Babis. The AMO refused to comment.
It is likely that the AMO has specified certain objections to the sale, which are being challenged by Agrofert in court, which thus has allowed Agofert further time to conclude the sale with the government. Nevertheless, the Cabinet has been opposed to further negotiation the sale, and the privatization inertia is therefore likely to last until the end of 2002, the deadline for Agrofert to close the transaction. A new tender would likely follow the failure of the current tender.
Jiri Soustruznik