Bratislava set to sell Slovak Telekom stake

By bne IntelliNews March 13, 2013

bne -

Bratislava is mulling a disposal of the state-owned minority stake in national telecom operator Slovak Telekom, local press claims, with the ministry of economy set to present the options to the cabinet and the majority shareholder.

The government of Prime Minister Robert Fico is reported to be considering offloading the 49% stake due to the state's lack of control at Slovak Telekom. Deutshe Telekom's - which has been fighting the authorities recently - holds the controlling 51% stake, while the Ministry of Economy (34%) and National Property Fund control the remainder.

A sale to the majority shareholder is being mulled, as well as searching for another strategic investor, according to the Sita news agency. However, the ministry of economy suggested it may favour a dual sale, with part of the stake sold directly and the remainder going to IPO. The final decision, it notes, will need Deutsche Telekom's support.

The majority shareholder has pre-emptive rights on the stake, and has said it will consider purchasing it should it prove favourable financially and strategically.

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