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UPDATE 1-UK's Cinven says still interested in buying Telekom Slovenia

Tue 16th June, 2015 7:04am
(Adds rejection, Macedonian unit, offer price) 
    LJUBLJANA, June 16 (Reuters) - UK investment firm Cinven 
 CINV.UL  said on Tuesday it remains interested in the purchase 
of Telekom Slovenia  TLSG.LJ , after Slovenia on Monday rejected 
its altered bid for the company.  ID:nL5N0Z11TH  
    "The conditions to proceed with the transaction now are not 
in place. Cinven remains interested in the privatisation of 
Telekom Slovenia and open to re-evaluate the situation in the 
coming weeks," Cinven said in a statement. 
    Slovenian state firm SDH, which is coordinating the 
privatisation, said on Monday it could not accept Cinven's 
additional conditions to its May 20 binding bid for Telekom. 
    According to local media, Cinven's conditions include Cinven 
not paying the full purchase price until Macedonian regulators 
approved the sale of Telekom's Macedonian unit. 
    The sale of that unit to Telekom Austria  TELA.VI  was 
agreed last year but Macedonia's market regulator has until July 
9 to decide whether to approve it or not. 
    Cinven said its bid for Telekom can be re-evaluated once the 
outcome of Telekom's Macedonian unit is clear. 
    Cinven had offered up to 130 euros per Telekom share which 
would value the whole company at 850 million euros ($958.46 
million). 
    Telekom is one of 15 firms that were earmarked for 
privatisation in 2013. So far four of those firms have been sold 
while one is undergoing bankruptcy procedures. 
 
($1 = 0.8868 euros) 
 
 (Reporting by Marja Novak; Editing by Christopher Cushing) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA M&A/TELEKOM
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