Sale of Telecom delayed

The Czech government has delayed a decision on selling its majority stake in the telecommunications operator Cesky Telecom, amidst a ministerial split on how best to proceed. Several ministers, including Prime Minister Stanislav Gross, favour a flotation on the capital markets but others claim that selling to a strategic investor would be a better long term option. A floatation of the state's 51 percent stake would bring immediate funds to the cash-strapped government. Several previous attempts to sell the government's stake in Telecom failed.