Login | Register
Items in shopping cart: 0 | View
Parliament approves new procedure for privatisation of Slovak Telekom
26 Jun 2014 Flash News
Parliament approved the amendment to the law on conditions of the state assets’ transfer to other persons; the amendment enables the sale of shares of the Slovak Telekom (ST) company through a new procedure: public offer on capital markets (IPO).
“The most preferred alternative for selling property shares of state and the National Property Fund (FNM) share of the Slovak Telekom company are the sale via capital markets (IPO) and subsidiarily, depending on several factors influencing the outlook for success of IPO, direct sale, or their combination, so-called dual track,” SITA quoted the ministry on June 25.
The law is effective as of August 1, the TASR newswire wrote.
Slovak Telekom (ST) is co-owned by the Deutsche Telekom AG company and the Slovak state. In mid February, the Memorandum on Understanding was signed between Deutsche Telekom AG, and Slovakia represented by the Economy Ministry, the FNM state property administrator and the ST company about the sale of 49-percent stake in St owned by the state. FNM started selecting an investment bank to coordinate and manage the IPO project.
(Source: SITA, TASR)
Most read articles
Euro Calculator (Sk30.1260 = 1 EUR)
What influences your travel plans?
Quote of the Week
“I was joking when saying that I did not order a sightseeing flight, but we were flying to Paris.” Defence Minister Martin Glváč commented on his emergency landing after the pilot noted problems with one of the plane’s engines and made several circles above the town of Pezinok before returning back to the Bratislava airport.