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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Deutsche Telekom AG | TG:DTE | Tradegate | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-0.04 | -0.18% | 21.66 | 21.62 | 21.69 | 21.78 | 21.61 | 21.74 | 150,198 | 22:50:02 |
By Leos Rousek
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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