Montenegro eyes minority stakes in ZPCG, OZVS merger plan

The government plans to buy up to 368,388 ZPCG shares for 1.70 euro ($1.83) per share and up to 366,597 OZVS shares for 2.10 euro apiece, totalling 1.4 million for both minority shareholdings, the government said in a statement on Friday.

The purchase will enable the government to increase its stake in ZPCG to more than 98% and in OZVS to more than 96%.

In February, Montenegro's government said it mandated the transport ministry to take all necessary measures to facilitate the merger of OZVS and ZPCG, to save OZVS from bankruptcy.

$ = 0.9280 euro