Slovenian altnet T-2 enters receivership

18 Sep 2014

Slovenian alternative fixed line, broadband and mobile operator T-2 has entered receivership, but insists that services for its customers will be uninterrupted. The decision by the District Court in Ljubljana to declare T-2 bankrupt came as ‘a surprise’, the company said in a statement, ‘since we have during the process demonstrated that the company is not insolvent and meets all actions consistent with sNFP (debt restructuring)’. T-2’s creditors, which include Bank Asset Management Company (BAMC), Hypo Alpe Adria Bank and Banka Celje, demanded receivership after they took over loans worth EUR90 million (USD116.5 million), Finance.si reports. The banks say that the operator is making losses of EUR7,800 a day, which is reducing the funds available to creditors. T-2 says its shareholders plan to appeal the court’s decision and that it remains a healthy business, with more than 175,000 subscribers and over 300 employees. It reported second-quarter sales of EUR14.3 million, up 9.1% from a year earlier.

Slovenia, T-2