Q:
A:
All activities concerning privatisation of Novosti daily must be suspended
Belgrade,
31 May 2005
The Serbian government stated that Serbian Minister of Economy Predrag Bubalo sent a letter to the Chairman of the Securities Commission informing him of the existence of legal problems in the procedure of privatisation of the Serbian daily Novosti.
In 2000, the higher commercial court revoked the decision on the economic and ownership transformation of daily Novosti and ordered that a valid evaluation of the capital invested in that company be conducted. In line with the court's decision, all activities related to the establishment of the total value of the company's capital and its distribution were annulled, it is said in the letter of Minister Bubalo.
“In order to avert immeasurable consequences and damage to the property of the Republic of Serbia, we propose that all activities related to the privatisation of the Novosti company be suspended until the true legal state of affairs is established”, it is said in the letter.
A copy of this letter has been sent to the Serbian parliament's Privatisation Committee; the Central Securities, Depository and Clearing House; the Privatisation Agency; the Business Registers Agency; the Share Fund and the Public Prosecutor's Office.
“In order to avert immeasurable consequences and damage to the property of the Republic of Serbia, we propose that all activities related to the privatisation of the Novosti company be suspended until the true legal state of affairs is established”, it is said in the letter.
A copy of this letter has been sent to the Serbian parliament's Privatisation Committee; the Central Securities, Depository and Clearing House; the Privatisation Agency; the Business Registers Agency; the Share Fund and the Public Prosecutor's Office.
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