Just two bidders reportedly remain for Telekom Slovenije after US private equity firm Providence pulled out of the privatisation process.
Deutsche Telekom, widely considered to be the favoured buyer, and London-based PE firm Cinven are the two still in…
Just two bidders reportedly remain for Telekom Slovenije after US private equity firm Providence pulled out of the privatisation process.
Deutsche Telekom, widely considered to be the favoured buyer, and London-based PE firm Cinven are the two still in the running for the state’s majority stake in the Slovenian incumbent, local newspaper Finance reported citing unnamed sources.
US-based Bain Capital and London-headquartered Apax Partners reportedly decided to withdraw from the process, which is now in its second phase, a few weeks ago. Binding bids are due by 21 January 2015.
Telekom Slovenije and Slovenian Sovereign Holding (SDH), which is running the process, were not immediately available for comment.
SDH management board member Matej Runjak previously told TelecomFinance he was optimistic the privatisation could be completed by the first quarter of 2015.
The state owns 72.38% of Telekom Slovenije, which has a market capitalisation on the Ljubljana bourse of €960.72m (US$1.18bn). The remaining shares are held by individual shareholders, local and foreign companies, institutional investors, brokerage houses and the company itself.