Ljubljana, 05 July (STA) - Telekom Slovenije has started the procedure for the sale of its Kosovo subsidiary Ipko. The move is in line with the telco's strategy of further consolidation through expansion or disinvestment.
Telekom Slovenije, which published the notification on the start of the sales procedures on the web site of the Ljubljana Stock Exchange on Friday, became the sole owner of Ipko last year after acquiring 7% of the company still held by minority shareholders.
In mid-March 2018, it provided a EUR 15m capital increase for the company.
Ipko, which was founded in December 2007, is the leading provider of fixed communication services in Kosovo and holds a notable share in mobile telephony.
According to the 2018 business report, Ipko held a 44.4% market share in fixed broadband subscriptions last year, while it increased its share in mobile telephony by three percentage points to 39.2%.
Employing more than 500, the Kosovo subsidiary recorded EUR 71.29 million in net sales revenue last year, which was level with 2017.