The Executive Committee of the National Property Fund (FNM) has announced the immediate sale of the state’s 15% stake in Slovak Telekom, meaning it will most certainly be snapped up majority shareholder Deutsche Telekom.
The committee concluded that the shares should be sold off as soon as possible, chiefly because of frustration over how the state’s partner Deutsche Telekom has consistently refused to pay out full dividends. A tactical move that seems to have worked in the end. The government already had a plan in place to sell the stake by the autumn of 2012.