he Ministry of Transport, Postal Services and Telecommunications should transfer a minority 34 percent stake of the company Slovak Telekom (ST) to the Economy Ministry. The ministry led by Lubomir Jahnatek should also perform shareholder rights pertaining to another 15 percent of ST in the portfolio of the FNM government privatization agency, writes a material elaborated by the Transport Ministry. The document currently is in an interdepartmental review.
In March, the Ministry of Transport, Postal Services and Telecommunications announced the transfer of ST shares from its portfolio, in reaction to a further wave of criticism from the European Union on the insufficient independence of the Slovak Telecommunications Office. It is funded from the budgetary chapter of the Ministry of Transport, Postal Services and Telecommunications, which also holds 34 percent in ST. In addition to EU officials, Slovak operators also criticize this situation, in which the Ministry pays the regulatory telecommunications authority and is also a shareholder of a leading telecommunications firm. Deutsche Telekom holds the majority, 51 percent, stake in Slovak Telekom.
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