Slovenian telecoms operator T-2 has confirmed the Maribor Higher Court has upheld a lower court decision to allow it to go ahead with a debt restructuring plan designed to see it repay creditors 44% of claims totalling €180m (US$242m) by 2020.
The…
Slovenian telecoms operator T-2 has confirmed the Maribor Higher Court has upheld a lower court decision to allow it to go ahead with a debt restructuring plan designed to see it repay creditors 44% of claims totalling €180m (US$242m) by 2020.
The nation’s incumbent operator, Telekom Slovenije, had lodged an appeal against the Maribor District Court’s August 2011 decision to mandate the plan which, as previously reported, a required majority of creditors have endorsed. Telekom Slovenije argued T-2 should be forced into receivership.
T2’s main creditors are Gratel, Loka Invest, Smart Inzenering, Telekom Slovenije, Nokia Siemens Networks, SAZAS and owners of TV programming rights.
In August, media reports quoted T2 general manager Uros Rozic as saying the plan would enable the company to return to the market to develop its competitive advantages.
Founded in 2004, Maribor-based T-2 provides fixed and mobile phone services as well as digital TV and broadband internet access to customers nationwide.
A company spokesperson said operational changes enabled it to grow its subscriber base by 10% in 2011 as well as boost revenue.
