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Slovakian Government Plans Sale of 49% Stake in Slovak Telekom

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Slovakia's government has announced plans to sell off its 49% stake in the country's largest telecoms operator, Slovak Telekom.

The company is currently 51% owned by Germany's  Deutsche Telekom, which also has a right of first refusal to buy the remaining 49% stake if put up for sale by the government.

If Deutsche Telekom declines to take full ownership of the company, then the Slovak government is looking to list the company in Slovakia, the Czech Republic and London.

Deutsche Telekom has confirmed that it intends to maintain its 51% stake, so wont be selling any shares, but hasn't decided on whether it will increase its stake.

Slovak Telekom didn't specify when exactly the IPO might take place, but the Slovak government has earlier said the sale could generate up to US$1 billion and it wants to complete the sale by the end of this year.

"The IPO will mark an important next step in our development and bring greater visibility to the value we intend to create," Miroslav Majoros, the chief executive of Slovak Telekom, said in a statement.

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Tags: slovak telekom  Slovakia