Germany’s telecommunications commission finalised an agreement at the weekend which grants the state a majority stake in Deutsche Bundespost Telekom once it is privatised, Reuter reported from Bonn: the report says the government’s stake in the telecommunications monopoly must not fall below 50% and that funds raised from the sale should should primarily go to the company rather than being used to cut the federal budget deficit; if the report is accepted by the political parties, which now seems likely, a bill will presented to parliament to change the consitution to allow the privatisation of Telekom and set up a federal office to administer the government’s stake in Telekom and administer its loss-making sisters, Postdienst and Postbank.
