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20-23 percent of Croatian telecom shares on sale as of Sept. 17

20-23 percent of Croatian telecom shares on sale as of Sept. 17

The public tender for the sale of 20 to 23 percent of shares in the Croatian telecommunications company _ controlled by Deutsche Telecom _ opens on Sept. 17 and will be completed on Oct. 5, the government said Thursday.
It would be the second time that the shares of one of Croatia's most profitable companies are being sold by public tender, after the government sold 17 percent of shares in the oil monopoly INA late last year.
Previously, the government usually sold shares in top companies to big foreign investors.
Croatian citizens will have a priority in buying the shares of HT-Hrvatske Telekomunikacije d.d. (T-Com), but at a limited value of 38,000 kuna (euro5,205; US$7,026) per person. As with INA, the government expects massive interest from Croats.
The government said it would estimate the price of a share by Sept. 17, and set it by the closure of the tender. Previously, authorities set a tentative price of 100 kuna (euro13.6; US$18).
Companies will be able to offer to buy the shares by Oct. 4.
The rest of the T-Com shares will be offered at the Zagreb and London stock markets.
It would be the second wave of privatization of T-Com. In 2001, Deutsche Telecom purchased a controlling 51-percent stake, while the government kept the rest.


Updated : 2021-04-15 05:16 GMT+08:00