Spectator on facebook

Spectator on facebook

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

Top stories

Discussion about road project becomes emotional

Analysts want more alternatives for the road from Zvolen to Košice to be assessed

The protest at Soroška

Slovakia commemorates the 1968 invasion. Here’s what it looked like Photo

Anniversary of the Warsaw Pact troop invasion that ended the Prague Spring.

Garth: We need a deal that will benefit both

“When I talk to the Brits living in Slovakia, they are quite relaxed about things,” UK Ambassador to Slovakia Andrew Garth says about the Brexit-related concerns.

UK Ambassador to Slovakia Andrew Garth

“Natural police” to protect nature and animals

Those who commit crimes against the environment should watch out.

Illustrative stock photo