Deutsche Telekom (DT) is reportedly interested in Telekom Slovenije to help boost its Eastern European Operations. The German incumbent has hired JP Morgan and Barclays to advise it on a potential bid, Bloomberg reported citing people familiar with the…
Deutsche Telekom (DT) is reportedly interested in Telekom Slovenije to help boost its Eastern European Operations.
The German incumbent has hired JP Morgan and Barclays to advise it on a potential bid, Bloomberg reported citing people familiar with the matter.
Slovenia is making a renewed attempt to privatise Ljubljana-based Telekom Slovenije, in which it has a 72.38% stake. The government has hired Citibank to advise it on the sales process, which could see up to 75.58% of shares sold as other investors have also agreed to exit. Interested parties have until 23 April to express their interest, after which binding offers will be submitted.
It is understood that the sell-side has already been contacted by strategic and financial players. Telekom Austria, which also has assets in region, including si.mobil in Slovenia, is seen as an unlikely buyer as it would face regulatory challenges.
DT has declined to comment on the matter.
Aiming to become the leading integrated pan-European operator, DT has made significant acquisitions in Eastern Europe recently. In February, the Bonn-based telco agreed to pay €828m for the remaining 39.23% stake in T-Mobile Czech Republic which it did not already hold. And last November, DT acquired GTS Central Europe for €546m in an effort to boost its fixed-line infrastructure in the region.
Ljublanja-based Telekom Slovenije has a market cap of €875m, valuing a 75% stake at €656.3m.
