Fico: If Economy Ministry Can Get Better Price for JESS Stake, I'll Support It
Bratislava, 18 August (TASR) - If Economy Minister Denisa Sakova (Voice-SD) doesn't agree with the valuation of CEZ's stake in the Slovak Nuclear Energy Company (JESS), she should negotiate more favourable terms, Prime Minister Robert Fico (Smer-SD) stated on Tuesday, adding that he's prepared to provide the necessary political support to the Economy Ministry.
In the coming days, the premier will therefore facilitate further negotiations between the parties concerned.
Fico also asked the economy minister to conclude the process of settling co-ownership relations as soon as possible and to ensure that failure to meet the deadlines set by the government doesn't give rise to speculation and unfounded accusations. In addition, he expects Sakova and representatives of the state-owned Nuclear and Decommissioning Company (JAVYS) to take the necessary legal action in response to the circulation of information suggesting that, when it comes to settling the shares, 'someone wants to pocket €90 million'. CEZ is also already considering legal action.
"At the same time, it's true that the minister in question can't compensate for an inability to fulfil a government task by torpedoing the entire project, should I, as prime minister of the Slovak Republic, be forced to exercise my powers in order to protect this strategic project," added Fico.
The Economy Ministry stated on Monday (17 August) that the process of settling ownership rights in JESS hasn't yet been concluded, primarily due to differing views on the price that Slovakia should pay to CEZ. The valuation of the stake by audit firm EY at €189 million, which is reportedly €90 million higher than its book value, has also been criticised by several opposition politicians.
Premier Robert Fico (Smer-SD) stated on Monday (17 August) that the ownership arrangements in JESS must be settled in September. According to him, the Economy Ministry has caused delays, and responsibility for the process must therefore be gradually transferred to the Government Office. Fico said in June that the settlement with CEZ must be based on an expert opinion from a renowned foreign auditing company. According to him, he trusts such an assessment, as a successful company wouldn't risk its reputation.
JESS is a joint venture between the state-owned Nuclear and Decommissioning Company (JAVYS), which holds a 51-percent stake, and CEZ, which owns 49 percent of the company's shares. The state intends to buy out the Czech company's shares in order to gain full control over the project for a new nuclear power station at Jaslovske Bohunice (Trnava region).
