Slovenia expects to decide on Telekom sale in two weeks (updated)

Telekom Slovenije, D.d

21/05/2015 14:53

(Adds comment from selling agency, share price, background) 
    LJUBLJANA, May 21 (Reuters) - Slovenia should decide in two 
weeks whether to sell the country's largest telecoms network 
operator Telekom Slovenia  TLSG.LJ  to private equity investment 
firm Cinven  CINV.UL , state investment fund SDH said on 
Thursday. 
    A person familiar with the transaction said on Wednesday 
that Cinven, which is the only bidder for Telekom Slovenia, had 
raised its offer to 130 euros per share, which would value the 
whole of the state-controlled company to 850 million euros. 
 ID:nL5N0YB48D  
    "SDH is examining Cinven's improved and final bid ...In line 
with the complexity of the procedure SDH will hopefully decide 
on the sale within two weeks," SDH said. 
    SDH is coordinating the sale of 72.75 percent of Telekom. If 
Cinven buys the stake it would then have to offer to buy the 
remaining shares in the company at the same price. 
    Telekom is the largest of 15 state companies that have been 
earmarked for sale in 2013. So far four have been sold. 
    Shares in Telekom closed 0.92 percent lower on Thursday at 
108 euros while the SBI market index  .SBITOP  gained 0.03 
percent. 
    Slovenia tried to sell Telekom in 2008 but cancelled the 
process, saying the bids were too low. 
 
 (Reporting By Marja Novak; Editing by Greg Mahlich) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: SLOVENIA TELEKOM/