Slovak Telekom IPO scrapped following mystery bid

The Slovakian government has shelved the scheduled IPO for Slovak Telekom after receiving an offer from an unnamed bidder.

Finance Minister Peter Kazimir refused to identify the bidder – widely believed to be Deutsche Telekom – but confirmed that the IPO for the 49% stake in the mobile and fixed incumbent had been cancelled.

He added that the bid was “visibly better” than the projected €750 million that the IPO would have raised. The government has not yet accepted the offer and will mull the decision over the coming days.

Deutsche Telekom is considered the most likely candidate as it already owns 51% of Slovak Telekom.

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