Minister wants to offload T-Mobile Slovensko stake

20 Oct 2006

Slovakia’s Minister of Transport, Posts, and Telecommunications, Lubomir Vazny, told local media yesterday that the government should consider offloading its holding in domestic cellco T-Mobile Slovensko. The state holds a 49% stake in the unit’s parent company Slovak Telekom, whilst Germany’s Deutsche Telekom (DT) owns 51%. Vazny said: ‘Since the third mobile operator, Telefónica O2 Slovakia, should launch operations next year, competition on the market will increase and the state role there thus will no longer be that necessary. Therefore, I would like to present this idea to representatives of [DT] as well as to the Slovak government.’ He said DT has an option on the T-Mobile Slovensko stake, and the state would offer its equity stake to the German firm first. ‘However, there are indications that DT is also interested in selling its T-Mobile shares, and, therefore, it is possible that the stake would be sold in the form of a public tender to a third party,’ added Vazny. The minister stresses that there was no likelihood of the government selling its interest in Slovak Telekom, ‘because competition on the fixed line market in Slovakia is insufficient.’

Slovakia, T-Mobile Slovensko (old do not use)