Czech Telecom state shares offered to telecommunication companies and their consortia

08-12-2004

The Czech government has decided to offer the state's 51.1 percent stake in Czech Telecom to telecommunication companies and the consortia they form with financial investors. Following a cabinet meeting on Wednesday, Deputy Prime Minister for the Economy Martin Jahn said a timetable has also been approved. If all goes according to schedule, preliminary bids will be submitted in the first week of February so that selected investors can present their binding bids in March. The cabinet hopes to choose a winner of the public tender by March 31.