Spectator on facebook

Spectator on facebook

Government to fast-track change on privatisation of state property

The Economy Ministry is proposing to change the privatisation act in order to enable Slovak state to sell its shares of Slovak Telekom on the stock exchange. The majority owner of Slovak Telekom shares, the Deutsche Telekom company, was promised that the sale via the exchange will start before this summer, the Sme daily wrote in its April 22 issue. A memorandum on cooperation stipulates that Slovakia shall start looking for an investment bank as advisor on the transaction as soon as this month.

The Economy Ministry is proposing to change the privatisation act in order to enable Slovak state to sell its shares of Slovak Telekom on the stock exchange. The majority owner of Slovak Telekom shares, the Deutsche Telekom company, was promised that the sale via the exchange will start before this summer, the Sme daily wrote in its April 22 issue. A memorandum on cooperation stipulates that Slovakia shall start looking for an investment bank as advisor on the transaction as soon as this month.

The draft amendment will enable the state to sell via the exchange only a portion of its shares in Slovak Telekom, however. Thus, it can sell part of its 49 percent of shares directly to Deutsche Telekom and thus render it a comfortable majority stake. If the government divides the package, this may influence the final price. The government plans to acquire €1 billion from the sale of its Slovak Telekom stake.

The Slovak government has the fast-track passing of the privatisation act on the agenda for the April 23 parliamentary session, the TASR newswire wrote a day earlier. The law should be valid from July 1 on.

(Source: Sme, 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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

We want a decent Slovakia, people chanted in squares

On the eve of the Velvet Revolution anniversary, people protested in the thousands, calling for a decent Slovakia.

Bratislava protest November 16, 2018

What we didn't know about our freedom

In 1989, we thought that once the job was done, we would only go out to the squares for Sunday walks.

November 1989 in Bratislava

The courage to fight for democracy

Authoritarian societies squander the possibilities of human achievement, of lives lived to their fullest, writes the US ambassador to Slovakia.

Illustrative stock photo

While France has Beaujolais Nouveau, Slovakia has St Catherine's wines

This warm summer with an early harvest was a blessing for young wine.

St Catherine's wines