Slovak Telekom and T-Mobile to Merge Operations

­Slovakia's land-line operator Slovak Telekom and mobile operator T-Mobile Slovensko have announced details of a planned merger of their two companies. T-Mobile is already a wholly-owned subsidiary of Slovak Telekom, but the merger will enable the sharing of resources and cost-cutting.

"We are convinced that through integration of the two companies we will form a modern telecommunications operator that will be able to react to all requirements of the market in a more comprehensive and effective way," President and Chairman of Slovak Telekom's Board of Directors Miroslav Majoroš said.

The merger was initially suggested last year by the controlling shareholder, Deutsche Telekom.

"The project of integration is of a long-term nature, it consists of many other partial projects, e.g. harmonisation of processes, interconnection of all information systems enabling a comprehensive view of the customer," the companies said in a statement.

"A final decision has not been made yet on the name of the new company, or on the location of its headquarters," Slovak Telekom added.

Deutsche Telekom is the majority shareholder of Slovak Telekom, holding 51%, with 34% held by the Slovak Economy Ministry and 15% by Slovakia's National Property Fund.

Posted to the site on 15th October 2009