Slovakia reportedly plans to proceed with the sale of its 49% stake in Slovak Telekom, irrespective of whether or not majority shareholder Deutsche Telekom (DT) takes up its right of first refusal.
The economy ministry and DT have held talks in recent…
Slovakia reportedly plans to proceed with the sale of its 49% stake in Slovak Telekom, irrespective of whether or not majority shareholder Deutsche Telekom (DT) takes up its right of first refusal.
The economy ministry and DT have held talks in recent months, but the German incumbent has neither exercised nor given up its first right to buy the state’s shares, Reuters reported citing ministry spokesperson Stanislav Jurikovic.
The spokesperson was quoted as saying DT is still “in the game”, adding that the German company wants to be involved in negotiations with any other potential buyer.
The spokesperson declined to give an estimated valuation or timeframe for the sale. Deutsche Telekom has refused to comment on the matter.
According to local newspaper Hospodarske Noviny, the state and DT are drawing up a cooperation agreement which will address contentious issues such as the telco’s dividend policy.
Slovakia mandated the economics ministry in March to negotiate with DT over the potential sale of its shares in Slovak Telekom.
The ministry has a 34% stake in the telco, while the national property fund holds a 15% stake. DT is the controlling shareholder with a 51% stake.
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.
