DT lined up for second round of negotiations on buying out government in Slovak Telekom

23 Jul 2013

Slovakia’s Economy Ministry carried out an initial round of negotiations with Germany’s Deutsche Telekom (DT) in June over selling the state’s 49% share in incumbent Slovak Telekom to DT, which already owns 51%, and has scheduled further talks with the Germans ‘this autumn’, financial newspaper Hospodarske Noviny reported on 19 July. Ministry spokesperson Stanislav Jurikovic imparted that DT had so far been non-committal on whether it would buy the additional shares, while the next round of talks might involve direct discussion between Slovak prime minister Robert Fico and DT’s CEO Rene Obermann, the report added. As previously reported by CommsUpdate, by selling its minority Slovak Telekom stake the government aims to raise between EUR600 million (USD783 million) and EUR800 million to contribute towards its programme of creating a single national health insurance system. DT holds the right of first refusal on the shares, but there are other potential investors, including LatAm telecoms giant America Movil – which has been branching out in Europe recently – and private equity group Penta.

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