Slovenia has decided which of the parties who expressed interest in acquiring a 72.75% stake in Telekom Slovenije qualified for the next step of the privatisation process.
Qualified bidders now have time until the start of June to submit non-binding…
Slovenia has decided which of the parties who expressed interest in acquiring a 72.75% stake in Telekom Slovenije qualified for the next step of the privatisation process.
Qualified bidders now have time until the start of June to submit non-binding bids, according to state-controlled fund SOD.
A source familiar with the plans told TelecomFinance in April, when the sale process for the 4.75 million ordinary shares was launched, that binding offers are expected to be due in mid-summer.
Citigroup is advising the sellers.
Strategic and financial players are said to be interested in the asset. Deutsche Telekom has reportedly hired JP Morgan and Barclays to advise it on a potential bid, while Norwegian telco Telenor has also been named as a potential suitor. Telekom Austria, which also has assets in region, including si.mobil in Slovenia, is considered an unlikely buyer as it would face regulatory challenges.
The state currently controls 72.38% of shares in the telco, held by the Republic of Slovenia, and state controlled-funds SOD and KAD. Treasury shares account for 0.46% of the stock capital, while most of the remainder is held by local companies and investors.
Telekom Sloveije has a market cap of €945.68m on the Ljublianja Stock Exchange, valuing a 72.75% stake at €687.98m.
Last June, the Slovenian parliament decided to privatise the telco following pressure from other European Union member states to address its budget deficit.
Slovenia had previously tried to privatise Telekom Slovenije. In late 2010, a sales process for a 49.13% stake in the telco was cancelled after the government rejected bids from the last two candidates – Iceland’s Skipti and a consortium of Bain Capital, Axos Capital and BT – as too low.
