Slovenian telco T-2 has had its bankruptcy ruling overturned by the Ljubljana Higher Court, returning the company to the control of its shareholders.
The court upheld an appeal filed by T-2 and its shareholders against a receivership order imposed by…
Slovenian telco T-2 has had its bankruptcy ruling overturned by the Ljubljana Higher Court, returning the company to the control of its shareholders.
The court upheld an appeal filed by T-2 and its shareholders against a receivership order imposed by the Ljubljana District Court in September, the telco said in a brief statement.
It found that the lower court had wrongly assessed the motion filed by creditors and directed it to reassess the application.
T-2, majority-owned by Slovenian fibre optic network provider Gratel, is the country’s second-largest integrated telco after incumbent Telekom Slovenije and the fourth-largest mobile network operator.
Its creditors include Bank Assets Management Company (BAMC), Hypo Alpe-Adria Bank and Banka Celje.
Despite the bankruptcy issues, T-2 is forecasting operating income of over €60m for 2015, EBITDA of €15m and positive cash flow of €6m. The company claims its number of mobile customers was up 11% year-on-year at the end of September 2014 and that fixed-line customer numbers had also increased.
