Slovenia's Telekom Q1 group net profit down 41 percent (updated)

Telekom Slovenije, D.d

13/05/2015 08:50

(Updates with quotes, details) 
    LJUBLJANA, May 13 (Reuters) - State-owned Telekom Slovenia 
 TLSG.LJ , which is in the midst of negotiations to be 
privatised, reported a group net profit of 7.2 million euros 
($8.1 million) for the first three months of 2015, down from 
12.3 million euros in the same period last year. 
    Slovenia's largest telecoms operator said on Wednesday group 
sales fell to 181.8 million euros from 192.8 million in the 
first quarter of last year. 
    "Revenues have been affected by lower call termination 
prices on the wholesale market, lower revenues from mobile phone 
services ... and declining revenues from traditional voice 
telephony," Telekom said in a statement. 
    In April, state investment fund SDH, which is coordinating 
the privatisation, received only one binding bid for Telekom, 
sent in by UK investment fund Cinven  CINV.UL . 
    The value of the bid has not been revealed and SDH expects 
to conclude talks with Cinven this month.  ID:nL5N0XI2H9   
    It remains unclear whether the sale will go trough or 
whether the privatisation process might be cancelled. 
    Telekom, with a market capitalisation of 706 million euros, 
is the largest of 15 companies that were put on a privatisation 
list in 2013. So far four of those companies have been sold. 
    ($1 = 0.8888 euros) 
 
 (Reporting by Marja Novak; Editing by Louise Heavens and Mark 
Potter) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA TELEKOM/