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Slovak Telekom receives better than expected floatation offers

Xinhua, May 11, 2015 Adjust font size:

A strategic investor interested in buying up the state's 49-percent stake in telecommunications company Slovak Telekom has offered 850 million euro (about 952 million U.S. dollars) for the transaction, Slovak daily Hospodarske Noviny reported Monday.

"The government has received a better and binding bid from investors. We're going to hold talks about it without delay," said Slovak Finance Minister Peter Kazimir.

According to Kazimir, the floating of the shares on the stock exchange last week set the value of the state's stake in the company at 750 million euros.

Hospodarske Noviny cited Deutsche Telekom, which owns the remaining 51 percent in the company, as the potential bidder. However, company spokesperson refused to comment on the matter. (1 euro = 1.12 U.S. dollars) Endit