Posted by on 16 Oct 2012. Filed under Politics, Top news. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

Fico Holds Foreign Shareholder in SPP To Ransom

Prime Minister Robert Fico has put his foot down on the principal gas company SPP over another proposal for a price hike for households, ransoming the minority shareholder to withdraw its proposals.

Prime Minister Robert Fico (c) The Daily.sk

At a press briefing today, Fico told the media that “the Government of the Slovak Republic sees absolutely no reason for the German and French minority shareholder of Slovensky plynárensky priemysel (SPP), a.s. to propose an increase in gas prices for households in 2013 by an average of 18.56 %, or even by as much as 25.43 %.”

Fico then demanded that the foreign shareholders of the gas company present him with a written confirmation that they have withdrawn price hike proposals from the General Meeting agenda by 10 am tomorrow morning, or he would freeze the state’s consent to the transfer of their share to Czech company Energeticky a prumyselny Holding (EPH).

His ransom technique will most likely work because the two investors GDF Suez and E.ON Ruhrgas are now keen to sell off their company Slovak Gas Holding B.V., through which they hold a 49% stake and managerial control in SPP.

6 Comments for “Fico Holds Foreign Shareholder in SPP To Ransom”

  1. Losgar

    Bobby found himself a couple of foreign supporters. The Annoying Orange and Grandpa Lemon. Hilarious! :D

    Bobby takes 3 times quicker with his right hand from the people then gives them back with his left hand. And the mob applauds him.

  2. Dave C.

    Lets hope the British company test drilling for oil and gas over here in the east hit the jackpot!

    • George M

      Knowing Slowvaks, they will strike a huge reservoir of pure piss from all the pee holes, they made that go straight into the ground, rather than in a sewer or a jumper .

  3. George M

    Dont often find myself supporting the Big Company . But in this case .

    The fact is Gas product is costing ever more on the world market and because Slovakia is reliant on Russian Gas, The Bear now uses it as a political tool. This is not aided by the Ukraine who are not honest partners in the transport of Gas into from Russia to Slovakia.

    Slowvakia also pays a lot less for Russian Gas than say the UK, all for the same product . The Sk Gas Regulator, who meant to be independent of government and sets the Gas price, is a mate of Bob Fico, having been appointed by him. Thus when Fico is in the Chair, the price stays low, with him claiming he is a hero fighting for the common man, and then when the Right Wing get into power …oh whoops the Gas price goes up by double or treble percentage because it must under cost and under the law/agreements made with SPP .

    The RW`s are of course made to look like robber Barons when this increase is so huge, even it the fault of the Regulator .

    As many of us have found negotiation in Slowvakia the place is a cesspit of sinking sand and goal post moving at the last secend….I guess if you ask for 18.56%, or even by as much as 25.43%, then perhaps you are hoping the shock effect of the proposed price increase, will bring you what you actually want ?

  4. Dave C.

    Well done Bobby! Absolutely spot on!

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