BUSINESS IN SHORT

FNM will sell Slovak Telekom stocks

THE SLOVAK Property Fund (FNM) will announce a public competition to appoint an adviser on the sale of the state’s 49-percent share in Slovak Telekom (ST). The package will not be sold to ST’s majority shareholder, Deutsche Telekom, the SITA newswire reported.

THE SLOVAK Property Fund (FNM) will announce a public competition to appoint an adviser on the sale of the state’s 49-percent share in Slovak Telekom (ST). The package will not be sold to ST’s majority shareholder, Deutsche Telekom, the SITA newswire reported.

“At the moment, the FNM is preparing details for the competition to choose an adviser on selling the minority stocks through an IPO [a public offer of shares on the stock market],” the FNM’s Miloslav Homola said, as quoted by SITA. FNM announced its decision to accelerate the sale of the state’s shares in ST on September 26, after Deutsche Telekom refused to pay a dividend, valued at €258 million, to Slovakia for the third time.

“This situation only confirmed the correctness of our initiative to persuade the Slovak government that it is not good to remain a shareholder in Slovak Telekom, but that it is more advantageous to sell its minority share as soon as possible,” said Homola, as quoted by SITA.


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