State ponders Telecom sell-off

14 Jan 2005

The government of Slovakia is reported to be considering a sale of its 49% stake in Slovak Telecom. Telecoms minister Pavol Prokopovic said that the state plans to start sale proceedings before the current administration’s term ends in 2006. Prokopovic went on to say that he wants to see the results from ongoing financial analysis before coming to any decisions on the matter, but he added that he doesn’t see ‘any reason why we should keep (the shares).’ Slovak Telecom became a state-owned enterprise in its own right in 1993 following the country’s split from the Czech Republic. It was transformed into a joint stock company in 1999 and was partially privatised in July 2000 when Deutsche Telekom paid USD950 million for a 51% stake.

Slovakia, Slovak Telekom (ST, incl. T-Mobile, DIGI)