Slovakia to sell minority stake in Slovak Telekom

The Slovakian government said today that it will sell a 49% stake in state incumbent Slovak Telekom later this year.

According to local reports, government officials have signed a memorandum of understanding (MoU) with majority shareholder Deutsche Telekom, allowing the procedure of the sale.

In a statement, the country’s minister, Tomas Malatinsky, said: “Now advisors and investment banks will be selected, and the state can sell its stake through an initial public offering (IPO) within nine months.”

In November last year, Slovak Telekom launched its 4G LTE network in five cities across the country.