Spectator on facebook

Spectator on facebook

Government approves intention to sell Slovak Telekom

THE GOVERNMENT will submit the documents concerning the sale of the state’s minority stake in Slovak Telekom (ST) to the parliament by March 6.

(Source: SME)

“The additional privatisation of 49 percent stock in ST has to fulfil the intention to achieve the best outcome from the sale of these shares in the most transparent way possible,” reads the document adopted by the cabinet at its February 11 session, as quoted by the TASR newswire.

The Economy Ministry proposes to sell the shares via the dual track, i.e. via initial public offering (IPO) on capital markets combined with the direct sale which follows the rules set by law in 1991.

“The final decision, which of the two forms of sale will be picked, will depend on market conditions and recommendations of investment banks as advisors in this process in order to achieve the most advantageous sale conditions,” the material reads, as quoted by TASR.

The shares should be sold at two stock exchanges: in Bratislava and London, TASR wrote.

In mid February 2014 state officials and Deutsche Telekom signed a memorandum on cooperation. Afterwards the National Property Fund (FNM) privatisation agency began the process of choosing an investment bank, whose tasks will be especiallythe general coordination and management of the IPO project.

In April 2014 the cabinet approved an amendment to the privatisation act extending the means for the sale of state assets to include the stock exchange, which was adopted by the parliament in June.

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

Spectacular Slovakia #3: Unexpected hiking (Enjoy Bratislava's greenery) Audio

In Slovakia, you can hike in the capital city. Listen to the latest episode of our travel podcast to find out more.

The Financial Administration’s head resigns from post

František Imrecze says his decision was spontaneous.

František Imrecze

People will gather to support imprisoned Ukrainian filmmaker

The open letter in support of Sentsov has been signed by more than 2,800 people.

People hold posters to support Ukrainian filmmaker Oleg Sentsov, who is currently on hunger strike in a Russian jail to demand the release of the other Ukrainian hostages taken by the Kremlin, in front of the Embassy of the Russian Federation in Kiev on August 21, 2018.

Institutions can be quickly destroyed, but they are hard to build

Head of the To Dá Rozum intiative, Renáta Hall, talks about the impacts of a dispute between the academy of sciences and the Education Ministry.

Renáta Hall