The Cabinet is to approve a preliminary timetable for the privatization of the state’s 51% stake in CT today at a regular meeting. The timetable assumes the following:
- 20 December – the tender opens – bidders may start submitting their bids
- First week in February - potential bidders should submit their preliminary bids
- Mid-February – the Cabinet will receive an interim progress report and decide whether to continue
- Week before the end of March – binding bids to be submitted
- 31 March – Cabinet to decide on the sale
- Mid-April – SPO should the tender sale fail
An information package should be available to potential bidders before Christmas. The Cabinet should also decide whether financial investors will be allowed to participate in the tender (in consortia with telecommunication operators). The Ministry of Finance also plans to start preparations for a capital markets transaction for mid-April should the tender fail. The Cabinet expects the CT management to support both privatization methods. The CT management is prepared to provide the necessary support for both sale forms within legal limits.
Source: CTK, Bloomberg
Tomáš Gatěk , Patria Finance