The Swedish government want to continue to sell more of its state owned companies
Friday, 27 September 2013
The Swedish government is bent on selling more of its company
stocks, the Financial Markets Minister, Peter Norman made that clear.
The Conservatives in government right now are not certain that they
will back in office after the next general election and it is clear
that the socialist and the Greens who might come in will not sell state
Despite pressures and parliamentary blocks from the Social Democrats,
the Green party and the far rights, Sweden Democrats, the conservatives
have stressed that they will sell more state companies before the 2014
election, writes Dagens Industri.
In the weeks before it became clear that that the state will sell its
shares in the bank Nordea, there was heated repudiation from the
opposition. Despite that, Peter Norman has just made a new list of
state companies that should get into the market.
|Troubled Vattenfall for the market / Granscole
|Telia Sonera for the market / Granscole
They are the likes of TeliaSonera, SBAB, SAS and even parts of
Vattenfall. Together, these sales could provide revenue for the state
of up to Skr130 billion.
The additional companies that would be taken to the market will become clear only at the election in 2014.
"I expect that in the manifesto, a new list of companies, probably
part of the company that are still standing there today is because we
have not reached the finish line with them, and possibly some new ones
too. I think that would be good, "said Peter Norman to the Swedish
business daily, Dagens Industri.
However, as we said earlier above, it is far from clear that the
government will succeed. The Social Democrats and its allies as well as
the far right Sweden Democrats have previously blocked the sale of
TeliaSonera and SBAB.
The Swedish State owns some 52 companies, with a value estimated to be
around Skr530 billion. The state has long struggled with finding a new
ownership model for its state companies.
The old shareholder proposal, where control of state companies moved to
the holding company or a shareholder authority was dropped altogether.
The model is "definitely dead and buried," said Peter Norman to Dagens
Therefore, before the election coming up next year, if the
conservatives leave office without fulfilling their conservative
principles of small government and "hands off" companies management or
more privatisation, they would have considered themselves as failed for
8 years in office.
by Scancomark.com Team