Spectator on facebook

Spectator on facebook

Economy Ministry becomes shareholder of ST

On January 15, the Economy Ministry became a shareholder in the dominant fixed-line operator Slovak Telekom (ST), ministry spokesman Marián Jánošík confirmed.

On January 15, the Economy Ministry became a shareholder in the dominant fixed-line operator Slovak Telekom (ST), ministry spokesman Marián Jánošík confirmed.

The ministry received the shares from the Transport Ministry, which transferred its 34-percent stake in ST.

"The transport minister wrote to majority shareholder Deutsche Telekom AG informing it about the transaction," Jánošík added.

The Cabinet ordered the shares transferred to stem criticism from the European Commission, which disapproved of the Telecommunication Ministry’s double role as a shareholder and author of legislation affecting the sector. Moreover, the Telecommunications Office, which regulates the market, is funded from the ministry budget.

The Transport had originally thought to transfer the shares to the government’s privatization agency, and started preparations to do so last March. According to Transportation Minister Ľubomír Vážny, the transaction should have been completed by the end of June.

But that plan hit two roadblocks: transfers of state-owned assets to the government's privatization agency are possible only through a privatization project; and objections from Deutsche Telekom AG, which cited the provisions of a Shareholder Agreement signed in 2000.

The 34-percent share is valued at Sk8.84935 billion. SITA

Compiled by Zuzana Vilikovská from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Slovak women scientists prove that science is not just for men

I grew up with the conviction that science belongs to men, said one awarded Slovak scientist.

Mariana Derzsi and Andrea Straková Fedorková

Five years after the Moldava raid, the victims have turned into perpetrators

June 19 marks the fifth anniversary of the brutal and much-discussed raid in the Roma settlement; and it points to five of those beaten being charged with perjury.

Moldava nad Bodvou

The UK is not cutting off its own hand, it is holding it out

It is not rational to behave towards the UK as if it posed a security risk to the EU.

Illustrative stock photo

Welcome to Slovakia?

Following Henry Acorda’s horrific killing, businesses need to stand up.

June 8 gathering in Bratislava