Government retires its last shares in T-HT

3 Dec 2010

The Croatian government has transferred its last remaining 3.5% stake in the country’s dominant telecoms group T-Hrvatski Telekom (T-HT) to the national Pensioners’ Fund. T-HT is controlled by Deutsche Telekom (51%), with private and institutional investors owning 38.5% of shares and the Croatian War Veterans’ Fund holding 7%, according to TeleGeography’s GlobalComms Database. In September 2007 the government sold a 32.5% stake in T-HT through an initial public offering (IPO) to repay pension fund debts, reducing its interest to 9.5%. In mid-2008 the state sold further shares in a discounted offer to current and former T-HT employees, and in October 2008 reduced its holding from 5.2% to 3.5% by allocating ‘bonus shares’ to individual shareholders as promised at the time of the IPO.

Croatia, Hrvatski Telekom (HT)