Slovenia rejects Cinven’s bid for Telekom Slovenije
Slovenian state firm SDH has rejected investment firm Cinven’s bid for Telekom Slovenije.
SDH, which is coordinating the privatisation, said the bid was rejected as a result of additional conditions from Cinven to the offer submitted May 20 2015. The state investment firm said it was still prepared to complete the transaction without those conditions.
Cinven said it remains interested in the acquisition of the state operator. "The conditions to proceed with the transaction now are not in place. Cinven remains interested in the privatisation of Telekom Slovenia and open to re-evaluate the situation in the coming weeks," the company said.
According to local reports, Cinven’s additional condition was that it retains part of the purchase price until Macedonian regulators approve the sale of its Macedonian unit One to Telekom Austria.
Cinven had offered up to €130 per share in Telekom Slovenije, valuing the company at €850 million.