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.

Related Articles

BOOK REVIEW: “Europe’s Orphan” – how the euro became a scapegoat for policy ills

Kit Gillet in Bucharest - The euro, conceived as part of a grand and unifying vision for Europe, has, over the last few years, become tainted and often even blamed for the calamities that have ... more

UK demands for EU reform provoke fury in Visegrad

bne IntelliNews - The Visegrad states raised a chorus of objection on November 10 as the UK prime minister demanded his country's welfare system be allowed to discriminate between EU citizens. The ... more

Austria's Erste rides CEE recovery to swing to profit in Jan-Sep

bne IntelliNews - Erste Group Bank saw the continuing economic recovery across Central and Eastern Europe push its January-September financial results back into net profit of €764.2mn, the ... more