The Slovenian National Holding Company (SDH) has approved the sale of a majority stake in Telekom Slovenije to the investment fund Cinven.
According to SEEbiz, the investment fund, which has submitted a binding offer, is now expected to make a response by July 10.
It adds that although Cinven is the only bidder for the telco, there is considerable opposition to its sale among Slovenian politicians.
The first problem is seen as Cinven’s low bid, which has apparently been increased from €110 per share with a further €15 plus for damages plus €5 for business results.
The second is that Cinven is not viewed as a strategic partner for Telekom Slovenije.
Broadband TV News notes that the privatisation of Telekom Slovenije is proving to be a long drawn out process, having started a year ago. As recently as last month, Deutsche Telekom was still believed to be in the picture, albeit indirectly, as a possible buyer. Further developments in the sale are expected shortly.
