TWO major telecom companies operating in Slovakia, fixed-line operator Slovak Telekom and mobile operator T-Mobile Slovensko plan to merge next year. T-Mobile Slovensko is currently a wholly-owned subsidiary of Slovak Telekom, which is controlled by Deutsche Telekom. The merger plans were announced on October 15.
“We are convinced that through integration of the two companies we will form a modern telecommunications operator that will be able to react to all requirements of the market in a more comprehensive and effective way,” President and Chairman of Slovak Telekom's Board of Directors Miroslav Majoroš said, as quoted by the SITA newswire.
He said he expected the merger of the two companies also to bring savings in the company’s operation and new opportunities for more effective management of the merged company.
The merger of the two operators is in line with the strategy of the parent company Deutsche Telekom, which announced plans to integrate its fixed and mobile services divisions last year.
From a legal and organisational standpoint, the two companies will be integrated as of the date approved by the respective bodies of both companies.
“The project of integration is of a long-term nature, it consists of many other partial projects, e.g. harmonisation of processes, interconnection of all information systems enabling a comprehensive view of the customer,” the press release stated.
Both companies obtained approval from their shareholders to launch preparatory works for integration. An initial analysis already carried out identified no obstacles that would prevent the legal merger of both companies.
Based on the experience of other companies that have undergone a similar process, Slovak Telekom and T-Mobile expect their full integration to be finished within two years from its start date.
“A final decision has not been made yet on the name of the new company, or on the location of its headquarters,” Slovak Telekom said.
The strategy of the newly created company will be to preserve the trading names T-Mobile and T-Com.
Slovak Telekom is a member of the multinational Deutsche Telekom group. The Slovak Telekom Group comprises the parent firm, Slovak Telekom, and its affiliates T-Mobile Slovensko, Telekom Sec, Zoznam, and Zoznam Mobile.
Deutsche Telekom, based in Germany, is a majority shareholder of Slovak Telekom, controlling 51 percent of the company. The Slovak Economy Ministry holds 34 percent and Slovakia’s National Property Fund the remaining 15 percent.
Slovak Telekom’s fixed-line revenues last year were €477.088 million and EBITDA reached €195.415 million.
T-Mobile Slovensko is a 100-percent subsidiary of Slovak Telekom. T-Mobile Slovensko reported 2.16 million active customers at the end of June of this year. The mobile operator reported total revenues of €591.4 million and EBITDA of €235.6 million for 2008. SITA
Compiled by Jana Liptáková from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
15. Oct 2009 at 14:00