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Deutsche Telekom offers to buy 49 pct stake in Slovak Telekom: minister

Xinhua, May 13, 2015 Adjust font size:

The investor who offered to to buy up the state's 49-percent stake in telecommunications company Slovak Telekom was its majority owner Deutsche Telekom, confirmed Slovak Finance Minister Peter Kazimir on Wednesday.

Kazimir refused to give any further details concerning the transaction, however, but said the government was in talks with Deutsche Telekom.

Slovakia was initially planning to sell its shares in Slovak Telekom via the stock exchange, but it resorted to halting the process last Thursday after having received a more favorable offer from the investor.

The minister said the bid was "significantly higher" than the price of 750 million euro (about 852 million U.S. dollars) set in an auction of the company's shares on the stock exchange.

"It's true that the Slovak National Property Fund received an offer last Thursday morning, which was the reason why we consequently decided to halt the sale of the shares via the stock exchange in Bratislava and in London," said Kazimir. Endit