Bid by Bain goes down drain, Telekom goes to Iceland?

26 Feb 2008

The Anglo-German consortium of Bain Capital, Axos Capital and BT has withdrawn its bid to acquire a 49.13% state-owned stake in Telekom Slovenije, Slovene Press Agency reports. The group told Slovenia’s privatisation committee that it would not amend its bid by a deadline of 29 February but was prepared to enter fresh talks if its own terms are met. The consortium added that it was disappointed by delays and an apparent lack of desire for constructive dialogue on the part of the commission, a press release read. The other remaining bidder for a stake in the Slovenian incumbent, Icelandic telecoms holding company Skipti, last week sent a letter to the commission which mentioned the possibility of withdrawal from negotiations, although adding that there were still realistic options for talks to continue.