"WAZ was not good and transparent investor"

Economy Minister Mlađan Dinkić says that Germany's WAZ Media Group "was not a good investor in Serbia".

Izvor: Tanjug

Thursday, 24.06.2010.

17:19

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Economy Minister Mladjan Dinkic says that Germany's WAZ Media Group "was not a good investor in Serbia". This, he elaborated, was since its business here was not transparent. "WAZ was not good and transparent investor" The company, which has announced a complete withdrawal from Serbia, owns shares in dailies Politika and Dnevnik, and has recently stirred controversy in some circles when it acquired a stake in the Vecernje Novosti company. Dinkic, who earlier this week called for the German group's future business dealings in Serbia to be banned, said WAZ has set up business with businessmen whose credibilitywas questionable. Addressing journalists while touring the PSTech company in Belgrade today, Dinkic said that he would not discuss WAZ's business in other markets, but that WAZ Managing Director Bodo Hombach should name his local partners. “If we were to analyze what happened with the WAZ investments in the last few years, we would realize that there was nothing good about it,” Dinkic was quoted as saying. The minister also stated that the withdrawal of WAZ would not prompt other German investors to leave Serbia, adding that a "great number of German investors expressed interest to invest in Serbia at the European Automotive Components Expo 2010 in Stuttgart on Wednesday". Also on Wednesday, media in Serbia reported that Bodo Hombach said in reaction to Dinkic's earlier statements that his media group would “gladly fulfill the wish of Mr. Dinkic“ and leave Serbia. “It would go much faster if he ordered the Serbian tycoon, whose name in accordance with the contract I can’t state, to return our money for the purchase of the Novosti shares,” Hombach said. “We have decided to leave but we won’t be robbed,” he was quoted. According to reports this week, WAZ is set to buy two more companies from the unnamed Serbian businessman - a move that would make it a majority owner of Novosti. However, the company maintains that it will then sell its shares and leave Serbia.

"WAZ was not good and transparent investor"

The company, which has announced a complete withdrawal from Serbia, owns shares in dailies Politika and Dnevnik, and has recently stirred controversy in some circles when it acquired a stake in the Večernje Novosti company.

Dinkić, who earlier this week called for the German group's future business dealings in Serbia to be banned, said WAZ has set up business with businessmen whose credibilitywas questionable.

Addressing journalists while touring the PSTech company in Belgrade today, Dinkić said that he would not discuss WAZ's business in other markets, but that WAZ Managing Director Bodo Hombach should name his local partners.

“If we were to analyze what happened with the WAZ investments in the last few years, we would realize that there was nothing good about it,” Dinkić was quoted as saying.

The minister also stated that the withdrawal of WAZ would not prompt other German investors to leave Serbia, adding that a "great number of German investors expressed interest to invest in Serbia at the European Automotive Components Expo 2010 in Stuttgart on Wednesday".

Also on Wednesday, media in Serbia reported that Bodo Hombach said in reaction to Dinkić's earlier statements that his media group would “gladly fulfill the wish of Mr. Dinkić“ and leave Serbia.

“It would go much faster if he ordered the Serbian tycoon, whose name in accordance with the contract I can’t state, to return our money for the purchase of the Novosti shares,” Hombach said.

“We have decided to leave but we won’t be robbed,” he was quoted.

According to reports this week, WAZ is set to buy two more companies from the unnamed Serbian businessman - a move that would make it a majority owner of Novosti. However, the company maintains that it will then sell its shares and leave Serbia.

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