Telekom Slovenia sale likely to be postponed -newspaper

Telekom Slovenije, D.d

15/06/2015 07:48

LJUBLJANA, June 15 (Reuters) - The sale of Telekom Slovenia 
 TLSG.LJ  to UK investment firm Cinven  CINV.UL  is likely to be 
postponed or cancelled as the two sides are unable to agree on a 
sales contract, Slovenian daily Finance reported on Monday. 
    It said Cinven over the weekend sent a letter to state firm 
SDH, which is coordinating the sale of Telekom, insisting that 
Cinven retains a part of the purchase price until Macedonian 
regulators approve Telekom's sale of its Macedonian unit. 
    SDH said last week it would only accept Cinven's offer for 
Telekom without the condition regarding the Macedonian unit. 
 ID:nL5N0YX255  
    The sale of Telekom's Macedonian unit to Telekom Austria 
 TELA.VI  was agreed last year but Macedonia's market regulator 
has until July 9 to decide upon whether to approve it or not. 
    Talks on the sale of Telekom Slovenian between SDH and 
Cinven could continue once it is clear whether Telekom's 
Macedonian unit is to be sold, the newspaper said.   
    Cinven has offered up to 130 euros per Telekom's share which 
would value the company at 850 million euros. 
    Cinven was not available for immediate comment. SDH said it 
would reply to Cinven's letter on Monday. 
    Telekom is the largest of 15 companies that were earmarked 
for privatisation in 2013. Four have been sold. 
     
     
 
 (Reporting by Marja Novak; editing by Jason Neely) 
 ((Marja.Novak@thomsonreuters.com; +386-1-5058805; Reuters 
Messaging: marja.novak.thomsonreuters.com@reuters.net)) 
 
Keywords: TELEKOM M&A/CINVEN