Telekom Slovenije could be split into separate service and infrastructure divisions ahead of its possible privatisation.
As a result, reports Poslovni, the actual value of the operator could be reduced by as much as €700 million.
It could also derail the whole privatisation process of ten state-owned companies, including the Slovenian incumbent telco.
Although Telekom Slovenije attracted eight bids earlier this summer, the government announced in early July that it was postponing its privatisation.
However, there was an early election on July 13 that has brought a three-party centre-left coalition into power.
It is expected to go ahead with the privatisation of Telekom Slovenije and other state assets.