BRATISLAVA, June 23, (WEBNOVINY) — Government privatization agency the FNM will recommend to the Cabinet to use the capital market to sell a minority package of Slovak Telekom shares it owns. The chairwoman of the FNM executive committee Anna Bubenikova addressed the sale of the Slovak Telekom stake at an annual conference of the Bratislava Stock Exchange on Thursday. “We still insist on our stance that we will recommend to sell the 15-percent stake in our portfolio on the capital market,” she stated.
The Economy Ministry will probably not limit itself to the capital market in Slovakia when it sells its shares of the company. “We would not probably limit ourselves to Slovakia in the event the shares should be introduced on the stock exchange,“ said ex-state secretary of the Economy Ministry and current MP Martin Chren. He said that the sale of several share packages at various exchanges would rather be considered.
Bubenikova said that talks between the Economy Ministry and the majority shareholder of Slovak Telekom, the German group Deutsche Telekom continue while also the discussion on the possible option to the minority stake can make it on their agenda. Then, the FNM will submit a material to the Cabinet on the outcomes of the talks, which will also recommend further steps.
Also Bratislava Stock Exchange (BCPB) representatives would welcome possible privatization using the capital market and possible use of the stock exchange in Bratislava. „We are looking forward with hope for a potential fourth stage of privatization,“ said the head of the BCPB board chairman Ivan Gransky at the annual BCPB conference.
In March, the Slovak Cabinet passed an analysis by the government privatization agency the FNM of the economic benefits of owning a minority stake in Slovak Telekom, which states that selling the government’s stake to Deutsche Telekom is the most efficient and most probable possibility. Finance Minister Ivan Miklos stated at that time that the sale should take place by the end of the year at the latest. The market value of the stake is estimated to oscillate around 934.3 million euro, representing the firm’s consolidated revenues in 2010. Deutsche Telekom holds a 51-percent share in Slovak Telekom. The Slovak Economy Ministry owns 34 percent and the FNM 15 percent.
SITA