Sweden: Market woes could affect state sales
Swedish Financial Markets Minister Mats Odell said in an interview with on Tuesday that market turmoil could affect the timing of the government's planned privatisation programme.
By PTI |
STOCKHOLM: Swedish Financial Markets Minister Mats Odell said in an interview with on Tuesday that market turmoil could affect the timing of the government's planned privatisation programme.
Odell said once Sweden reviewed indicative bids for Absolut vodka maker Vin & Sprit it could decide whether to delay the sale of the company. Sweden said in December it would sell V&S through an auction in 2008.
Odell said indicative bids for V&S were due to arrive this week. "Once we have seen the end of that process we have the ability to put on the brake if necesssary, if we feel the price is too low.
If that is the case, we wait for a better time," Odell told the radio station, which published his remarks on its Web site. V&S is one of several state assets earmarked for sale, including a large stake in Nordic bank Nordea. Odell told the radio station "now was clearly not the right time" to sell banking assets.
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