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Ministry to publish summary of 1999 contract with Deutsche Telekom

ZAGREB, Jan 28 (Hina) - A summary of the 1999 contract between theCroatian government and Deutsche Telekom (DT), whereby the Germancompany acquired the first 35 percent of Croatian Telecom shares, willbe made public in 15-20 days, the Croatian Ministry of the Sea,Tourism, Transport and Development reported on Friday.
ZAGREB, Jan 28 (Hina) - A summary of the 1999 contract between the Croatian government and Deutsche Telekom (DT), whereby the German company acquired the first 35 percent of Croatian Telecom shares, will be made public in 15-20 days, the Croatian Ministry of the Sea, Tourism, Transport and Development reported on Friday.

Minister Bozidar Kalmeta decided to publish the summary of the contract due to public interest and after summaries of three contracts with DT from 2001 were made public yesterday.

Under the contract signed in October 1999, DT became HT's strategic partner after buying 35 percent of company shares at a price of 850 million US dollars.

This was the first stage of privatisation of HT, while the second stage was completed in October 2001 when a second contract was signed. DT then bought an additional 16 percent of HT shares at a price of 500 million euros, thus becoming the owner of 51 percent of HT shares.

The contracts were never made public either partially or fully due to a confidentiality clause.

The publishing of the contracts was demanded on several occasions by parliamentary deputies, associations, trade unions and experts.

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