Simson hits brakes on Michal's plan to create holding company for state enterprises ({{commentsTotal}})

Business
Business

Previous Minister of Economic Affairs and Infrastructure Kristen Michal's (Reform) idea to create a single holding company for state enterprises has been suspended by Estonia's new government.

Following the surfacing of the Port of Tallinn corruption scandal, then-Minister of Economic Affairs Kristen Michal expressed that a single state-run holding company would make the management of state enterprises, chiefly transport companies, more transparent.

Michal had already begun the necessary preparations for this in the fall, however a change of government followed and the Reform Party was left out of the new ruling coalition.

The new coalition, in turn, took on a new direction in the matter: they decided to list a number of state-owned companies, including the Port of Tallinn, on the stock exchange. This meant that the creation of a single state-owned holding company, at least in the context of the Port of Tallinn, was no longer up for discussion.

The new Minister of Economic Affairs and Infrastructure Kadri Simson (Center) confirmed to ERR's online news portal that the holding company idea was off the table.

"The previous Minister of Economic Affairs and Infrastructure Kristen Michal began discussing a holding company for state enterprises in light of the Port of Tallinn corruption affair — the new government will not be continuing with Michal's plan," Simson laconically commented.

Editor: Editor: Aili Vahtla



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