Telekom Slovenije has posted operating revenues for the first half of 2007 of EUR380.8 million (USD519.2 million), up 5% year-on-year, but net profit dropped 12% to EUR46.3 million, as the group earmarked a record EUR145.2 million for investments in the six months to end-June. The company is diversifying to exploit alternative revenue streams following a drop in turnover from core fixed line services. Telekom Slovenije has eleven subsidiary companies, including Slovenia’s largest mobile operator by subscribers, Mobitel. The government has published a call for bids for acquiring a 49% stake in the telco. The call is open until 15 October, but ‘registered bidders’ need to file a complete bid by 28 September. Around ten to fifteen hopefuls are expected to submit non-binding bids, and selected registered bidders will then have to submit binding bids on the basis of due diligence ahead of a final auction process. Telekom Slovenije is 62.5% directly owned by the Republic of Slovenia. Funds and others (including brokerage firms, investment companies) hold around 27%, whilst around 10.5% is held by private investors. Taking into consideration the state funds KAD and SOD, the government indirectly controls around 74% of Telekom. In line with its privatisation strategy, the state intends to retain 25%-plus-one-share in the incumbent.