SLOVAKIA NEEDS MORE COMPETITION, SAYS EC

ST sold Rádiokomunikáciefor Sk3.6 billion

THE PRICE for which Slovak Telekom sold the transmission company Rádiokomunikácie last year was revealed on March 5. Its new owner, the TRI R consortium, paid approximately Sk3.6 billion for Rádiokomunikácie, said Miroslav Majoroš, president of the board of directors of Slovak Telekom, the SITA newswire wrote.

THE PRICE for which Slovak Telekom sold the transmission company Rádiokomunikácie last year was revealed on March 5. Its new owner, the TRI R consortium, paid approximately Sk3.6 billion for Rádiokomunikácie, said Miroslav Majoroš, president of the board of directors of Slovak Telekom, the SITA newswire wrote.

The net, or accounting, profit from the sale of Rádiokomunikácie was Sk1.3 to Sk1.4 billion, said Szabolcs Gaborjani-Szabo, vice-president for finance in Slovak Telekom. “The sum of Sk2.2 billion was deducted from the assets of Slovak Telekom,” he said.

Slovak Telekom transferred its shares in Rádiokomunikácie to TRI R on October 5 last year. The transfer followed approval of the sale by the Antitrust Office, based on the contract signed between Slovak Telekom and TRI R.

Proceeds from the sale will be used as agreed by shareholders, according to Miroslav Majoroš, the chairman of the board of directors at Slovak Telekom. One priority is investment in further extension of broadband technologies and building new access networks.

In addition to radio and television broadcasting, Rádiokomunikácie also provides services to mobile operators. Rádiokomunikácie reported revenues of Sk965 million last year, posting a post-tax profit of Sk318 million.

The TRI R consortium was founded by Movys (60 percent), I.T.A. Telecom Slovakia (30 percent) and Hampden Investments Limited (10 percent), for the purpose of jointly applying for Rádiokomunikácie in a tender announced by Slovak Telekom.

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