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Dear Marc,
As I read your excellent draft paper, and then
followed the e-mail discussion between David, Rainer, Shann and you, I find
everything mentioned quite actual and relevent. Still I should add up
something referring more specifically to the MEBO's in Central and East European
countries which the EU an European Parliament should have in mind. Since, after
1989, a huge amount of assets in these countries was privatized in
a relatively short period of time, the greater part of these privatizations
took place in the form of Management and Employee Buy-outs, utilizing the
preferences for this kind of privatization secured by these countries'
legislation. In Bulgaria, for example, the number of MEBO companies is around 1
500. What all such companies have, or rather lack in
common is turnover and investment capital. The MEBO companies in our
countries are also much in need of technical assistance - training etc. Provided
the large numbers of these companies, and the extremely difficult economic
condition in which almost all of them are now, they will be the ones to
determine the economic "face" of Central and East European
countries while applying to join the EU. My point is, given the
complexity and specifics of the situation and their urgent needs,
that the MEBO companies in the countries of Central and Eastern Europe be
considered separately from EC countries, while simultaneously treated
with greater care.
Evgenie Kostourkov
Ownership Foundation, CEO
Bulgaria
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