SOD to sell 10% stake in Telekom Slovenije

7 Nov 2008

State investment fund Slovenije Odskodninska Druzba (SOD) will sell a 10% stake in Telekom Slovenije to pay back investors that contributed to the development of the incumbent telco’s network, according to a statement from the fund’s general manager, Marko Pogacnik, reported by local news source dnevnik.si. Pogacnik said the decision was taken due to the government’s failure to auction a strategic stake in Telekom Slovenije, and the need to make return payments valued at EUR50 million (USD64 million) to all those who invested in the telecoms network. According to TeleGeography’s GlobalComms database the Republic of Slovenia directly owns a 52.53% stake in Telekom Slovenije, but taking into account state investment funds SOD and Kapitalska Druzba (KAD) the telco is 74.14% publicly owned, with 10.46% held by domestic individual shareholders, and the remaining 15.4% distributed between other domestic and foreign entities. After launching an international tender for 49.1% of directly and indirectly held Telekom shares in August 2007, the government shortlisted seven strategic bidders, but cancelled the sale at the beginning of March 2008 after none could satisfy its expectations; the poor quality of bids was partly blamed on negative global economic factors.

Slovenia, Telekom Slovenije (incl. Mobitel)