The Slovenian regulator has directed eight Telekom Slovenije shareholders, including the government, to make a joint takeover offer for the company.
Together, the government and seven other shareholders have exceeded the legal takeover threshold,…
The Slovenian regulator has directed eight Telekom Slovenije shareholders, including the government, to make a joint takeover offer for the company.
Together, the government and seven other shareholders have exceeded the legal takeover threshold, requiring them to submit a bid for the entire company, Telekom Slovenije disclosed in a statement.
The seven other shareholders are investment management firm Kapitalska druzba, investment fund Slovenska Odskodninska druzba, insurance company Zavarovalnica Triglav, port operator Luka Koper, bank Nova KBM, Sklad Za Financiranje Nuklearne Elektrarne Krsko and airport management company Aerodrom Ljubljana.
The government currently has a 62.54% stake in Telekom Slovenije, Kapitalska Druzba has a 5.59% stake and Slovenska Odskodninska Druzba has a 4.25% stake. The other abovementioned shareholders have smaller stakes.
The Ljubljana-based telco reported operating revenues of €595.9m for the first nine months of the year, down 4% from the same period last year. EBITDA stood at €198.4m and the EBITDA margin at 33.3%. Net financial debt was down nearly €52m to €336.7m, which the company said makes it one of the least indebted large telecoms operators in Europe.
However, the telco acknowledged in a release detailing its third quarter results that it must reduce costs and expand operations to counter “negative trends”, including declining fixed and mobile phone revenues. As such, the company said it plans to expand into non-traditional telecoms areas such as television, digital advertising, management services and cloud computing.
Telekom Slovenije had 2.7 million fixed and mobile connections at the end of September.
