IT Minister Vladimir Mlynar said that the government may select CT's new owner in March 2005. Mlynar added that he would support the sale of the whole 51% stake to a single investor - a strategic partner or a consortium including a strategic partner. The offered price should be the only criterion, with no other conditions in the tender. Note that last week, the government asked its advisors, CSFB/CS, to approach potential bidders to monitor preliminary interest in the privatization. The Ministry of Finance said that the government is considering three ways of privatizatizing the company: (i) selling the whole 51% stake to a tender winner, (ii) floating the full 51% stake on capital markets and (iii) a combination of the above two methods. CSFB/CS should make its recommendation regarding the optimal way of privatization to the privatization committee in October, while the Ministry of Finance expects the government to make a decision on the privatization form in the same month at the latest.
Separately, CT said that the number of ADSL connections now exceeds 50,000 - up from 32,000 at the end of 1H04. The ADSL uptake rate seems be accelerating, which is positive for the company as ADSL is one of the few fixed line growth areas.
Tomáš Gatěk