Mayor questions RTB Bor sale

Mayor of Bor says he will ask the Serbian Government to probe mining company sale to Romanian Cuprom.

Izvor: B92

Thursday, 08.03.2007.

11:18

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Mayor questions RTB Bor sale

“The most significant natural resource in the country was sold to the Romanians at an inadequate price and we have enough arguments to claims that some one had received a fee to facilitate the sale”, Rankić told the press.

He pointed out that RTB Bor was sold despite numerous unresolved ownership issues and said the mining complex owned RSD 370 mn to local public companies.

Cuprom bought RTB Bor USD for 400 mn at a public tender, offering USD 60 mn more than the runner-up at the tender, a consortium of Cyprus-based East Point and British investment fund ORN.

East Point president Zoran Drakulić announced he would file charges against the state and several ministers, accusing them of violating provisions of the tender and of making concessions to the Romanian buyer.

The Independent Trade Union RTB Bor, the largest syndical organization of the company’s employees, has also voiced doubt over the integrity of the government decision to sell the mining complex to Cuprom.

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