T-HT staff grab their share

28 May 2008

Current and former employees of T-Hrvatski Telekom (T-HT) have been invited to purchase 7% of shares in the Croatian incumbent telco currently held by the government, to reduce the state’s stake to 2.5%. The shares are being offered at a discount of 5% minus an additional 1% per year of employment at T-HT or its predecessor companies. The invitation is open to former and present workers of T-HT, its mobile division T-Mobile, as well as the former Croatia Posts & Telecommunications (which spawned Hrvatski Telekomunikacije, later T-HT) and the spun-off postal agency Hrvatski Poste. Applications can be made at branches of Raiffensebank until the 16 June deadline. According to TeleGeography’s GlobalComms database, T-HT is owned by Germany’s Deutsche Telekom (51%), public investors (32.5% – individuals 25%, institutions 7.5%), the Croatian government (9.5%), and a Croatian war veterans’ fund (7% as of mid-April 2008, although at that date some veterans began selling shares on the Zagreb bourse after the expiration of a trading ban on the fund’s stock).

Croatia, Hrvatski Telekom (HT)