Business News

Telekom Slovenije Supervisors Agree to Sell Albanian Subsidiary

Ljubljana, 02 October (STA) - The supervisors of Telekom Slovenije have okayed the sale of the telco's Albanian company Primo Communication in a move that signals the start of efforts to consolidate Telekom's operations as set down in the company's strategy.

Telekom, which is on the government's list of 15 companies slated for privatisation, purchased Primo Communication, the biggest alternative provider of internet services in Albania, in 2007.

The press release Telekom Slovenije issued on Wednesday points to Telekom incorporating in May part of the activities of subsidiaries Avtenta and TSmedia as another step towards consolidation.

Writing about possible scenarios in a renewed attempt to sell Telekom Slovenije, Dnevnik reported a year ago that the national telco could soon sell off its subsidiaries in Macedonia (One), Kosovo (Ipko) and Gibraltar (Gibtelecom).

The group around Telekom Slovenije reported EUR 395.6m in operating revenue for the first six months of the year, which was 1% more than in the same period last year. Net profit was up 17% at EUR 30.9m.

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