Cesky Telecom - government considers joint sale of its stake with TelSource

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Investiční bankovnictví KB

      IT Minister Mlynar said that the government considers selling its 51% stake in Cesky Telecom together with consortium TelSource. Final decision should be made within a month. Consortium TelSource announced earlier that it plans to offer its 27% stake in Cesky Telecom to institutional investors and would like to complete the sale by the end of this year.

       We consider the news positive for Cesky Telecom. Government decision possible means a quicker privatization of the company, which is currently scheduled to be completed in 2005. Sale of government stake would ensure presence of telecommunications operator in Cesky Telecom, as we expect the government to stick to its previous strategy, when a buyer had to be a telecommunications operator or a telecommunications operator had to be a member of the buying consortia. The possible joint sale with TelSource should be without problems that complicated the previous privatization attempt. Moreover, sale of stake exceeding 75% ensures the minority shareholders a buyout of their shares.

      Tyto zprávy pro vás vytváří Investiční bankovnictví KB.