Deutsche Telekom Said to Be Near $1 Billion Deal for Slovak Unit

Deutsche Telekom AG may seal a deal for the rest of its Slovak unit as early as Wednesday after it offered the local government about 900 million euros ($1 billion), three people familiar with the matter said.

The German phone company, which bought 51 percent of Slovak Telekom AS in July 2000, is in talks to pick up the 49 percent the Slovak government had planned to sell in an initial public offering, said the people who spoke under condition of anonymity because the talks are private. The buyout accord would include locking 100 million euros in an escrow account until pending legal disputes are settled, they said.