The Slovakian government is looking to conclude an initial public offer (IPO) of its 49% stake in national fixed and mobile operator Slovak Telekom by the end of June. A plan has been agreed to consolidate the state’s shareholdings into the National Property Fund (FNM) by next week. Reuters quotes Economy Ministry spokeswoman Miriam Ziakova as saying: ‘We do not know exactly when shares will get to the stock exchange, but we would like to have it concluded by the end of the first half.’ The government favours a dual listing in Bratislava and London.
There is still an opportunity for 51% shareholder Deutsche Telekom (DT) to come forward with an offer of its own as it has first right of refusal under certain conditions, but a bid would have to be made before the IPO placement. The German firm has so far given no hint that it may look to increase its stake in its Slovak subsidiary. A DT spokesperson told Reuters: ‘Our strategy regarding our European participations has always been to look at opportunities from a perspective of whether it makes economic sense. We will do the same with Slovak Telekom.’