TALLINN -- Estonia's Ministry of Economy
and Communications is studying which state-owned companies
and at which conditions could be privatized, the daily Eesti
Paevaleht claims.
Under scrutiny are five companies -- Eesti Post, Eesti
Energia, Eesti Raudtee (Estonian Railway), Tallinna Sadam
(Port of Tallinn) and Tallinna Lennujaam (Tallinn Airport),
the ministry's PR adviser Gea Otsa said.
"The objective is not to fill the state treasury but to
find out what benefits involving private capital could have
for the development of the companies," Otsa said.
The ministry is trying to establish whether to sell the
companies at all and if yes, which parts of them to sell.
Under consideration are both a scheme of privatizing through
the stock exchange and a direct placement of shares.
"In the case of the railway only sale of the carriage
operations can be considered. The tracks will definitely
remain in state hands," Otsa explained, adding that the
state wants to retain a certain degree of control in all of
the companies.
The analysis will be ready in August and then the
minister of economy and communications, Juhan Parts, will
form his opinion. Otsa believes the final proposals will
probably not be put before the Cabinet until September, the
paper said.
Even in the current economic climate, a sale of what would immediately become Estonia's blue chip companies would be of huge interest to international investors. Much attention will focus on what regulations might be drawn up to restrict foreign - and particularly Russian - ownership of national assets.
