Telekom eyes Slovak, Greek expansion

February 17, 2014 11.25 Europe/London By Chris Dziadul

Deutsche-TelekomDeutsche Telekom is set to strengthen its presence in Slovakia and Greece.

Quoting a local report, Telecompaper says the Slovak Prime Minister Robert Fico has signed a memorandum for the sale of the 49% stake in Slovak Telekom currently owned by the state to Deutsche Telekom, which already owns 51%.

An investment bank will now be chosen to manage the sale, which will be completed within nine months of its engagement.

The sale will also be dual track form, via an IPO and directly by an international tender.

Separately, Reuters reports that Deutsche Telekom is close to buying a further 10% in Greece’s OTE, thereby raising its controlling stake to 50%.