Ministry: five large state companies could be privatized

Estonian Ministry of Economic Affairs and Communications is attempting to find out if and on what conditions it would be possible to privatize five large state companies: postal company Estonian Post, energy company Eesti Energia, Estonian Railways, Port of Tallinn, and Tallinn Airport.

“The purpose isn’t to add money to the State Treasure, but rather finding out what sort of advantage privatizing would bring to the further development of the enterprises,” Gea Otsa, the press representative of the Ministry told eesti päevaleht. Gea Otsa also said that Estonian Air, for example, has been left out of the analyses, because the state isn’t the majority share holder in the company.

In the case of all previously mentioned enterprises, the Ministry is looking into whether and if yes then which parts could be sold while considering both listing and directly selling the shares.

In the case of Estonian Railways, the rails will, however, certainly remain in the possession of the state, so part of transit is being negotiated over, Otsa specified, adding that in all mentioned enterprises the state is planning to keep enough shares to have a right to speak up.

The analyses will be ready by August, when the Minister of Economic Affairs and Communication, Juhan Parts, will formulate his opinion and then – in September earliest – the final suggestions and propositions will be presented to the government.

Source: BBN