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Mikloš: State needs to commence sale of its minority share in ST

The state is planning to sell its minority share in Slovak Telekom (ST) by autumn 2012 at the latest. "It could be estimated that the whole process will take 15-18 months," Finance Minister Ivan Mikloš (Slovak Democratic and Christian Union (SDKÚ)) said at a press conference after a government session on Wednesday, March 23.

The state is planning to sell its minority share in Slovak Telekom (ST) by autumn 2012 at the latest. "It could be estimated that the whole process will take 15-18 months," Finance Minister Ivan Mikloš (Slovak Democratic and Christian Union (SDKÚ)) said at a press conference after a government session on Wednesday, March 23.

An estimated market price for the 49-percent share in ST held by the state could amount to €934 million. "However, the real price will be generated during the public tender ... a more transparent tender will mean a higher price and that's our interest," stressed Mikloš, as quoted by the TASR newswire.

Currently, two options are under consideration for the sale. "The first is an international tender, in which the whole package gets sold, with majority shareholder Deutsche Telekom enjoying the exclusive right to purchase," said Mikloš. The other option is to sell the shares on the capital market, which would mean more, smaller investors. "That could aid the development of the stock market, as we expect these stocks to be listed on the Bratislava securities exchange," the minister added.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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