The telecommunications company Slovak Telekom could end up entirely in private hands, Economy Minister Tomas Malatinský stated after the regular Governmental session on Wednesday. The state currently holds a 49 percent stake in the company and Deutsche Telekom has the remaining 51 percent of shares.
“Given the state of affairs in the telecommunications industry, Slovak Telekom doesn't have as strategic a position any longer. We believe then that the company could be entirely private,” said Malatinský. He confirmed that they are considering a sale via the stock exchange. Deutsche Telekom expressed support for the state's decision; however they want a pre-emptive right to buy up the remaining shares. Malatinský added that the sale will not take place until the end of this year. There are different opinions to what the sale will be used to savage. Prime Minister Robert Fico spoke of the sale in the context of the Government's plan to buy out the two private health insurers while Finance Minister Peter Kažimír wanted to use the money to lower state debt.
