Slovak Telekom, a Bratislava-based telecommunications company
majority-owned by Deutsche Telekom AG (DTE.AG), said on Tuesday
that the value for the remaining 49% shares set to sold by the
state is about 750 million euros ($807.6 million) to EUR1
billion.
Deutsche Telekom isn't selling its stake in Slovak Telekom,
which will be listed in Bratislava and London.
The offering price ranges from EUR17.7 to EUR23.6 a share and
the subscription period for the shares will run until May 6, the
company said.
Citigroup and J.P. Morgan are acting as joint global
coordinators and joint bookrunners, while Erste Group and Wood
& Co. are acting as joint lead managers, the Slovak company
said.
"We believe that current market conditions are favorable for
such a transaction like the Slovak Telekom offering," Slovak
Economy Minister Pavol Pavlis said.
The ministry is overseeing the state-held shares in Slovak
Telekom.
The government aims to use its proceeds from the sale to pay
some of the state's debts or invest in Slovak power-generation
assets majority-owned by Italy's utility Enel SpA (ENEL.MI). The
Italian company is considering divesting its Slovak assets in which
the Slovak government already holds a 34% share.
Write to Leos Rousek at leos.rousek@wsj.com
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