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.

Top stories

You do not need to sympathise with LGBTI to support their rights

The lawmakers need to act before the next Oliari comes to the Strasbourg court to sue Slovakia.

Ombudswoman Maria Patakyova addresses the Pride participants.

Preparation of young journalists lags

Editors and students complain about the lack of practical training at journalism schools and missing links with the realities of the media market.

International students travel to attend world leading universities. So they did in the past.

Raslavice village creates jobs; constructs wellness centre

By using eurofunds and state aid new Mayor of Raslavice Marek Rakoš thus created some 80 jobs in two years.

Fico: We are ready to discuss the 13th salary

The prime minister also presented reasons why Slovakia should be in the EU core.

PM Robert Fico