SOD publishes tender for Telekom stake sale; Magyar Telekom interested

13 Nov 2008

Slovenian state-owned fund Slovenije Odskodninska Druzba (SOD) yesterday published a tender for the sale of a 10% stake in national incumbent telco Telekom Slovenije. SOD is offering for sale a total of 635,548 shares in Telekom, and bidders may offer to buy at least 3% of the firm’s capital (196,064 shares) or the entire stake. The non-binding tender, designed to verify the interest of potential bidders, is open until 3 December. Any bids received will expire on 2 February 2009.

According to TeleGeography’s GlobalComms database, the Republic of Slovenia directly owns a 52.53% stake in Telekom Slovenije, but taking into account SOD and another state fund 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. Earlier this month the government confirmed it had frozen the sale procedure for the 49.1% stake.

Hungarian telco Magyar Telekom, which tabled a bid for its Slovenian counterpart in 2007, told Hungarian news website Portfolio.hu that it remains interested in acquiring a stake in Telekom Slovenije, but did not confirm or deny whether it actually plans to take part in the new tender. ‘We continue to be seriously interested in this opportunity and if a decision is made on a concrete step we will make an announcement,’ Magyar’s communications department was quoted as saying.

Slovenia, Magyar Telekom, Telekom Slovenije (incl. Mobitel)