Business News

Newspaper Publisher Vecer Sold to Small IT Firm

Ljubljana, 24 June (STA) - Newspaper group Delo has sold its 79.24% stake in publisher Vecer to 3 LAN, a small IT firm from Murska Sobota, pending approval from the Competition Protection Office, Delo's owner Pivovarna Lasko said Thursday. No further details were divulged.

The news comes just weeks after Delo said it would push ahead with the sale of Vecer even though it had not received any binding offers in a public call for bids.

Publicly accessible information show that 3 LAN had is in 100% ownership of businessman Denis Ceh. It specialises in IT solutions and Vecer seems to be its first foray into media.

The company had sales of just EUR 715,000 in 2009, which it ended with a profit of EUR 44,000. The majority stake in Vecer is valued at several million euros.

Delo is selling Vecer at the request of the competition watchdog, which ordered it in September 2009 to sell at least 75% of Vecer stock due to anti-trust concerns.

The watchdog established the concentration between two publishers, both of which have national daily newspapers, restricted efficient competition on the market of general daily news in Slovenia.

The office left it up to Delo to choose the buyer and the manner of sale, but said the disposal of the stake must be irreversible, which means the seller cannot negotiate a buyback option.

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