Securities regulator declares state share in Telekom exceeds mandatory takeover level

30 Nov 2012

Telekom Slovenije’s board has been issued with a notification from the Securities Market Agency under the rules of the Ljubljana Stock Exchange, stating that the Slovenian government and other state entities have collectively exceeded the takeover threshold of shareholding in the telco, and should therefore submit a joint takeover offer in accordance with the Takeovers Act. The shares under scrutiny are held by the Republic of Slovenia (62.54% direct stake as of 30 September 2012), Kapitalska druzba (KAD, pension fund manager, 5.59%), Slovenska odskodninska druzba (SOD, Slovene compensation fund, 4.25%), Zavarovalnica Triglav, Luka Koper, Sklad za financiranje razgradnje Nuklearne elektrarne Krsko, NOVA KBM and Aerodrom Ljubljana. There have been repeated calls for Telekom Slovenije’s privatisation but no firm plan has been released to date regarding offloading of state shares.

Slovenia, Telekom Slovenije (incl. Mobitel)