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Slovakia sells stake in Slovak Telekom to Deutsche Telekom

Xinhua, May 19, 2015 Adjust font size:

Slovakia will sell its 49-percent stake in Slovak Telekom to majority shareholder Deutsche Telekom for 900 million euros (1.025 billion U.S. dollars), with the government signing a contract to that effect with the German company here Tuesday.

"The Slovak National Property Fund executive committee, Economy Ministry and subsequently also the government have approved the sale of the 49-percent stake," said Finance Minister Peter Kazimir.

At the same time, it was agreed that Deutsche Telekom will pay Slovakia dividends from last year amounting to almost 16 million euros.

The contract also stipulates the creation of a special account reserving more than 100 million euros for resolving possible legal disputes related to its activities from the past. Endit