The Slovak government intends to sell its 49% stake in Slovak Telekom via an IPO within the next nine months.
The economy ministry announced today that it has signed a memorandum of understanding with the incumbent’s majority shareholder Deutsche…
The Slovak government intends to sell its 49% stake in Slovak Telekom via an IPO within the next nine months.
The economy ministry announced today that it has signed a memorandum of understanding with the incumbent’s majority shareholder Deutsche Telekom (DT) regarding the planned sale.
Economy minister Thomas Malatinsky said advisers and investment banks will now be selected.
Slovakia mandated the economics ministry in March to negotiate with DT over the potential sale of its shares in Slovak Telekom.
Last October, reports claimed the state planned to go ahead with the sale, irrespective of whether DT took up its right of first refusal. Economy ministry spokesperson Stanislav Jurikovic was quoted at the time as saying that DT was still in the game and wanted to be involved in negotiations with any other potential buyer.
Commenting on the news, a DT spokesperson said the company has agreed to facilitate the process for the Slovak government to potentially sell its stake via an IPO or sale to a third party.
“In this context, DT preserves all of its rights as per the current shareholder agreement.”
The state attempted to sell its shares in Slovakia’s largest telco in 2011, but halted plans in October that year after the centre-right coalition government collapsed.
