Rejected bid sparks legal battle

  • 2003-08-14
  • Steven Paulikas
VILNIUS - Lithuania's refusal to accept a bid from Latvijas Balzams in a highly contested privatization has elicited a sharp response and legal action from both Latvian state authorities and business interests.Latvijas Balzams, which submitted the highest bid for a 91.95 percent stake in Stumbras, Lithuania's largest vodka distiller, has lodged complaints in Lithuanian courts and vowed to pursue international arbitration."We are appealing the decision through legal channels," said Rita Voronkova, press secretary for Latvijas Balzams in Riga.The legal action could open recently healed wounds...
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