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12. 05. 2003
Borba struggles with huge debts
BELGRADE, 12 May, 2003 – Zoran Kalicanin, newly appointed director of the Borba Company, said yesterday that he has discovered massive debts and numerous illegalities since taking control of the newspaper publishing firm. The Serbia-Montenegro Council of Ministers appointed Kalicanin director of the company at the end of April. In a statement sent to agency Beta, Kalicanin said that financial service reports estimate the company’s debt to be over 470 million dinars. The Borba Company was formed by the merger of five firms from the Borba Publishing House
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