Telekom Slovenije to sell stake in Gibtelecom

18 Nov 2014

Telekom Slovenije will reportedly divest its 50% stake in Gibtelecom to Gibraltar’s government for EUR47.7 million (USD59.6 million), according to a filling with the Ljubljana Stock Exchange. Gibtelecom’s chairman and deputy chief minister, the Hon. Joseph Garcia, was cited as saying that ‘in the light of the ongoing sale of the Telekom Slovenije group this shares buy-back enables the government to influence the way forward on the ownership of a communications business that plays an important role for Gibraltar in today’s digital economy’. Further, he noted that the state was keen not to allow a decision on a future strategic partner for Gibtelecom to be ‘driven by others outside Gibraltar’. It is understood that the transaction will be completed at a Gibtelecom board meeting scheduled to be held next month.

Gibraltar, Gibtelecom, Telekom Slovenije (incl. Mobitel)