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Slovene government launches sale of 49-percent stake in the leading telecommunications company

Slovene government launches sale of 49-percent stake in the leading telecommunications company

The Slovenian government called Friday for bids for a 49-percent stake in the country's leading telecommunications company, Telekom Slovenije, which holds virtual monopoly on fixed phone lines.
Initial bids for the stake _ valued at about euro3.1 billion (US$ 4.2 billion) _ should be submitted by Sept. 28.
The government left open the option of selling 35 percent of the shares first, and another 14 percent in a second phase of privatization.
It plans to sell more shares in the future, eventually keeping only 25 percent plus one share in the company it now fully controls.
Matjaz Jansa, a senior official at the economics ministry, said 10-15 companies had showed interest in bidding and the ministry already talked with some of them. Jansa did not identify them.
Telekom Slovenije consists of 11 companies, including Slovenia's largest mobile operator, Mobitel. It holds a near-monopoly in fixed-line communications. But Mobitel faces several strong rivals, particularly Vodafone.
Telekom Slovenije employs about 4,000 people.
The group said Friday that it generated operating revenues of euro380.8 million (US$514 million) in the first six months of the year, up 5 percent over last year. Its sales revenues also rose by 5 percent, to euro377.3 million (US$509 million), the group said.
The company's operating profit dropped, however, by 11 percent, to euro64.3 million (US$87 million), while its net profit stood at euro46.3 million (US$63 million).


Updated : 2021-06-18 07:01 GMT+08:00