Eastern Slovak municipalities sold water company shares at one-third nominal value, audit finds

Municipalities in eastern Slovakia sold their shares in water companies for only one-third of their nominal value, according to an audit by the Supreme Audit Office (NKÚ), Slovakia's financial oversight body. The audit found that the municipalities indirectly lost real influence in the water companies through these transactions. The Supreme Audit Office regularly examines public sector financial management and reports on potential misuse of public resources or disadvantageous deals involving state and municipal assets.