Government lines up sale of 3.5% stake in T-HT; telco changes registered name

22 Apr 2010

According to an unnamed Croatian government source, the state is looking to offload its remaining 3.5% stake in national full-service telecoms group T-Hrvatski Telekom (T-HT) in the short-term, as part of a wider plan to sell minority shares in as many as 400 companies. The source, quoted by local press, confirmed that privatisation plans referred to in a statement by the Prime Minister included T-HT. It has not yet been revealed how the stocks will be sold, although the most likely option is thought to be a sale on the Zagreb Stock Exchange (ZSE). Deutsche Telekom currently owns 51% of T-HT’s shares, with the War Veteran’s Fund holding 7% and 3.5% in government hands. The remainder is in free float. Since its initial public offering in October 2007, T-HT shares have traded on the ZSE, with global depositary receipts trading on the London Stock Exchange.

In other news, T-HT has altered its registered legal name from HT-Hrvatske Telekomunikacije d.d. to Hrvatski Telekom d.d. Its public-facing name remains as T-Hrvatski Telekom (T-HT). Following the merger of mobile unit T-Mobile d.o.o. (T-Mobile Croatia) into the parent company on 1 January 2010, the domestic group is organised into two business units, Business and Residential, with fixed and mobile services offered under the T-Com and T-Mobile brands, respectively.

Croatia, Hrvatski Telekom (HT)