A public call for bids for a 49.13% state stake in Slovenia's national telco is expected to be published on 24 August, envisaging three options in which the stake can be sold.
The valuation of Telekom Slovenije is to be completed by mid-September, while the deadline for bids is to be 8 October, a government official told the press on 10 August. Matjaz Jansa, who heads the Electronic Communications Directorate at the Economy Ministry, said that he would be surprised if the valuation of Telekom, whose value on the Ljubljana Stock Exchange is currently EUR 3.2bn, showed a price equal or higher to the market value.
Stock market analysts assessed the price of Telekom's share as extremely high already a year ago and it has doubled since. What is more, Telekom's value is twice as high as that of comparable companies in Europe, while it is also true that the telco has invested in Kosovo and has good infrastructure, in particular UMTS, Jansa said. According to him, the tender will envisage three options for the sale of the state stake: one is to sell the entire stake, the other is to sell part of the company with a three-year suspension, while the third option would be cross-ownership.
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