Dom-Titan Dd logo

TIKG - Dom-Titan Dd News Story

€6 0.0  0.0%

Last Trade - 21/08/17

Sector
Size
Market Cap £n/a
Enterprise Value £n/a
Revenue £n/a
Position in Universe th / 649

UPDATE 1-Cinven hikes offer for Telekom Slovenia to 130 eur/shr - source

Wed 20th May, 2015 4:16pm
(Updates with share price, background) 
    By Arno Schuetze and Marja Novak 
    FRANKFURT/LJUBLJANA, May 20 (Reuters) - Buyout group Cinven 
 CINV.UL , the only bidder for telecom operator Telekom Slovenia 
 TLSG.LJ , has hiked its offer to 130 euros a share to win over 
Slovenian authorities facing criticism they could be selling on 
the cheap, a person familiar with the transaction said. 
    "Negotiations have ended, a final offer has been submitted," 
the source said on Wednesday. 
    Slovenian state investment fund SDH, which is coordinating 
the sale, was not available for immediate comment but had said 
last month that talks on the sale were expected to end in May. 
 ID:nL5N0XI2H9  
    The offer consists of an upfront cash payment of 110 euros a 
share, an additional payment of 15 euros a share depending on 
the outcome of ongoing litigation at Telekom Slovenia and an 
additional 5 euros a share depending on the company's 
performance, the person added.   
    Previously Cinven had offered only about 110 euros per 
Telekom share, sparking doubts over whether the sale would be 
completed as many Slovenian policy makers rejected a sale at 
this price.  ID:nL5N0XI2H9  
    Shares of Telekom closed 4.8 percent higher at 109 euros, 
while the blue-chip SBI index  .SBITOP  gained 0.5 percent. 
    Telekom, with a stock market value of 712 million euros, is 
the largest of 15 companies earmarked for privatisation in 2013. 
So far four of those firms have been sold. 
 
 (Editing by Maria Sheahan and David Holmes) 
 ((arno.schuetze@thomsonreuters.com; +49.69.7565.1197; Reuters 
Messaging: arno.schuetze.reuters.com@reuters.net)) 
 
Keywords: TELEKOM M&A/CINVEN
© Stockopedia 2021, Refinitiv, Share Data Services.
This site cannot substitute for professional investment advice or independent factual verification. To use it, you must accept our Terms of Use, Privacy and Disclaimer policies.