Cinven says Telekom Slovenia bid valid until June 10 (updated)

Telekom Slovenije, D.d

03/06/2015 10:48

(Updates with EBRD statement, details, background, share price) 
    By Marja Novak 
    LJUBLJANA, June 3 (Reuters) - Investment firm Cinven 
 CINV.UL  said on Wednesday its bid for Slovenia's largest 
telecoms provider, state-owned Telekom Slovenia  TLSG.LJ , is 
only valid until June 10. 
    Cinven is the only bidder for Telekom Slovenia and has 
offered up to 130 euros per share, according to Reuters sources, 
which would value the company at 850 million euros ($945 
million).  ID:nL5N0YB48D  
    Cinven also said it had invited the European Bank for 
Reconstruction and Development (EBRD) to participate in the 
privatisation of Telekom. 
    "The EBRD is currently considering Cinven's offer to finance 
a portion of the acquisition by providing possibly debt and/or 
equity," the EBRD said in a statement, adding it had not yet 
received "any approvals" regarding its potential involvement.    
    Telekom is the largest of 15 companies the Slovenian 
government earmarked for privatisation in 2013. So far, just 
four of those firms have been sold. 
    Cinven is bidding for a 72.75 percent stake controlled by 
the government but will later have to offer to buy the rest of 
the shares at the same price, according to Slovenian law. 
    Late on Tuesday, parliamentary boards of finance and 
monetary policy and the economy rejected an initiative from the 
opposition centre-left United List party to stop the sale due to 
an alleged lack of transparency over the procedure. 
    Government investment fund SDH, which is coordinating the 
privatisation, said on Tuesday that a decision on the sale will 
be reached in a few days. 
    Shares of Telekom fell by 2.46 percent to 97.05 euros by 
0916 GMT while the blue-chip SBI index  .SBITOP  lost 0.31 
percent. 
    Slovenia had planned to sell Telekom in 2008 but cancelled 
the sale saying the bids were too low. 
   ($1 = 0.8989 euros) 
 
 (Editing by David Clarke) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA TELEKOM/