PM to scrap National Property Fund

16 Apr 2012

Slovakia’s privatisation agency, the National Property Fund, owner of stakes in companies including Slovak Telekom, will be discontinued under plans announced by Prime Minister Robert Fico last week. As quoted by newswire TASR, the incoming PM stated: ‘The priority of my government will be the cancellation of this institution because it has lost its relevance. Soon, therefore, the Economy Ministry will submit a proposal for a course of action… I don’t want to talk about any timetables now, but this is an issue that will become one of the priorities for the new cabinet.’ As noted by TeleGeography’s GlobalComms Database, the National Property Fund owns a 15% stake in Slovak Telekom, while the Ministry of Economy holds 34%, with managing shareholder Deutsche Telekom controlling 51% of equity; the state is planning to sell its total 49% share by autumn 2012 at the latest, preferably via an initial public offering (IPO). When Slovakia’s coalition government collapsed in October 2011 privatisation plans were suspended, but are expected to get back on track following the Smer-SD party’s outright win at the March 2012 general elections, GlobalComms adds. It is assumed that the privatisation agency’s stake in the telco will be consolidated with shares held by the Ministry of Economy ahead of an IPO.

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