Incumbent strengthens online portfolio

19 Jun 2007

Telekom Slovenije has acquired a 75% share in Interseek, the developer of Slovenia’s leading internet search engine, for EUR8.55 million (USD11.46 million). The former telecoms monopoly said the acquisition was in line with its strategy of strengthening its position in internet services. Interseek also operates search engines in Croatia, Serbia, Macedonia and Bosnia-Herzegovina, whilst tops the list of Slovenia’s most popular internet sites, with 800,000 users, or around 85% of all domestic internet users, according to Telekom. generated a net profit of EUR558,000 in 2006 on revenues of around EUR3.5 million. The 25% of Interseek not bought by Telekom remains in the hands of Noviforum and partner companies. The state-run telco will register the acquisition with the Competition Protection Office, which must give its approval to complete the deal. Earlier in the month the operator also bought the internet unit of Slovenian alternative fixed line services provider Perftech.

The international tender for the sale of a 39% stake in Telekom Slovenije is expected to be launched by the end of August. It is currently 62.53%-owned by the Republic of Slovenia, whilst funds, brokerage firms and investment companies hold 28.84%, and 8.63% is held by private investors. Taking into consideration the state funds KAD and SOD, the government controls around 74% of the firm.

Slovenia, Telekom Slovenije (incl. Mobitel)