SLOVAKIA NEEDS MORE COMPETITION, SAYS EC

Slovak Telekom to pay out Sk3 billion in dividends

SLOVAKIA’s dominant fixed-line operator, Slovak Telekom (ST), is to pay out Sk3 billion in dividends to its shareholders. The decision was made by its annual general meeting on April 30, the SITA newswire reported on May 1.

SLOVAKIA’s dominant fixed-line operator, Slovak Telekom (ST), is to pay out Sk3 billion in dividends to its shareholders. The decision was made by its annual general meeting on April 30, the SITA newswire reported on May 1.

The government’s privatis-ation agency, the National Property Fund, which controls 15 percent of ST, will receive Sk450 million. The Economy Ministry (which holds a 34-percent share), will receive Sk1.02 billion. The company will pay Sk1.53 billion to its majority shareholder, Deutsche Telekom AG, which holds 51 percent.

The annual general meeting also set a deadline for payment of the dividend of October 31, 2008, with shareholders receiving half by the end of May. Shareholders also approved the annual financial statement for 2007. They agreed to change the company’s statutes, extending the term in office for members of the board of directors and of the supervisory board from four to five years.

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