EPS: Distribution of free shares after elections

Dragomir Markovic, CEO of the Electric Power Company of Serbia (EPS), said Thursday that the distribution of free shares in that public company would not start before the parliamentary elections that should be held in May 2012.

- Privatization of the EPS will commence with the distribution of free shares among citizens and workers until the year's end - he said at a press conference occassioned by the celebration of the 20th anniversary of the EPS trade union.

Markovic reminded that citizens would get 15% of shares in the Serbian power company.

- Shares will probably not be distributed before the elections because it is necessary to transform the EPS into a joint-stock company before that - he said.

President of the EPS trade union Milan Djordjevic stressed that the trade union was not supporting the privatization of the EPS, adding that it would only accept a solution making the state a majority owner of the company.