Business News

At least 2.7%, Possibly 5% of National Telco Up for Sale

Ljubljana, 27 December (STA) - Three state-owned investors and a private investment fund published on Monday a call for bids for a package of 177,473 shares or a 2.7% stake in state-owned telco Telekom Slovenije.

Prvi pokojninski sklad, a pension fund managed by the state-run Pension Fund Management (KAD), the NLB bank, insurer Zavarovalnica Triglav, and the PSP Modra linija investment fund are only ready to sell the entire package.

KAD will be accepting bids until 31 January.

KAD head Borut Jamnik told the STA that Prvi pokojninski sklad was selling the shares above all as a result of legal provision regulating the fund, but did not provide any details.

According to unofficial reports, more than 5% of Telekom is in fact available for buyers, as a group around financial holding NFD is also selling a 2.36% stake.

Telekom, who is in direct 52.54% ownership of the state, closed at EUR 83.60 on the Ljubljana Stock Exchange last week.

The state-run SOD fund is Telekom's second biggest owner with 14.25%, KAD holds 5.59%, NFD 1 2.36%, Prvi pokojninski slad 0.77%, Triglav vzajemni sklad 0.85%, Perspektiva FT 0.75% and Intersvet 0.66%.

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