Citigroup has clinched a deal to act as financial adviser on the planned privatisation of Ljubljana-listed Telekom Slovenije, a person with knowledge of the situation confirmed on Friday.
Last month the Slovenian Restitution Fund, which is coordinating…
Citigroup has clinched a deal to act as financial adviser on the planned privatisation of Ljubljana-listed Telekom Slovenije, a person with knowledge of the situation confirmed on Friday.
Last month the Slovenian Restitution Fund, which is coordinating the sale process, said it planned to invite 15 “major international financial institutions” to take part in a tender to act as the financial adviser for the sales process, with the selection scheduled for October.
In September 2013, Telekom Slovenije had a market capitalisation of €725.44m (US$980.5m), valuing the 75% stake at €544m (US$735m).
The Slovenian government decided to privatise the telco in May following pressure from other European Union member states to address its budget deficit. In June, MPs approved the proposed sale of the telco and 14 other state-owned companies.
Media speculation in April marked Telekom Slovenije among the first candidates for privatisation, ahead of other assets, which also include two banks, insurer Zavarovalnica Triglav and energy company Petrol.
In late 2010, Slovenia cancelled the privatisation process of a 49.13% in Telekom Slovenije, rejecting bids from the last two candidates – Iceland’s Skipti and a consortium of Bain Capital, Axos Capital and BT – as too low.