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Deutsche Telekom Said to Bid for Slovak Unit, Ending IPO

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Deutsche Telekom AG is in talks to buy the rest of Slovak Telekom AS it doesn’t own, prompting the local government to cancel an initial public offering for its 49 percent stake, three people with knowledge of the matter said.

The German phone company, which bought 51 percent of the Bratislava-based unit for about $1 billion in July 2000, placed a bid that beats the 750 million euros ($851 million) the government would have collected based on the pricing before the IPO was set to proceed, two of the people said on Thursday. Shares in Deutsche Telekom, which declined to comment, traded at 16.36 euros at 2:41 p.m. in Frankfurt, rebounding from an intra-day low of 16.