Slovenian incumbent Telekom Slovenije has acquired Bosnian telco Telrad Net, expanding its presence in the country.
The Slovenian state-controlled telco said in a bourse filing that Bosnian subsidiary Blicnet signed an agreement today to acquire all…
Slovenian incumbent Telekom Slovenije has acquired Bosnian telco Telrad Net, expanding its presence in the country.
The Slovenian state-controlled telco said in a bourse filing that Bosnian subsidiary Blicnet signed an agreement today to acquire all Telrad shares. It will not disclose the purchase price or other transaction details before the deal is completed.
The Ljublanja-listed telco said the purchase is in line with its business plan for 2014 to 2018, which forecasts market consolidation and a greater number of customers in Southeast Europe. The company also has operations in Croatia, Kosovo, Macedonia and Montenegro.
“One of the strategic goals of the Telekom Slovenije Group is to consolidate its position as a strong regional operator and to become the first alternative provider of integrated telecommunications services in each of the markets where the group is present.”
The outgoing Slovenian government had planned to privatise Telekom Slovenije by the end of the year, and hired Citi as an adviser, but suspended all privatisations pending the formation of a new government. Political newcomer Miro Cerar, whose centre-left SMC party won the general election last Sunday, has said he will review the sale of certain strategically-important assets, including Telekom Slovenije. The SMC party is set to begin coalition talks next week and the new government is expected to be established in September.
The state, which controls 72.38% of shares in the incumbent telco, reportedly received nine bids for its shares. Germany’s Deutsche Telekom and private equity firms including Apax, Cinven, CVC and Providence were said to have submitted offers. A source familiar with the matter told TelecomFinance that five bidders had been selected to proceed to the next round.
Telekom Slovenije has a market capitalisation of €892m on the Ljublanja exchange.
Banja Luka-based Blicnet provides fixed-line, mobile, broadband internet and cable TV services.
