The Anglo-German private equity consortium of Bain Capital & Axos Capital & BT notified the commission overseeing the privatisation of Telekom Slovenije that it was withdrawing its bid to acquire a 49.13% state-owned stake in the telco.
The consortium wrote it would not file an amended bid by 29 February but was ready for additional talks if the terms it submitted to the commission are met.
The consortium was disappointed by continuous delays and lack of desire for constructive dialogue by the commission, the press release reads.
Today's development comes after last week's hints that the other bidder, Icelandic operator Skipti, has called it quits.
The commission said last week that Skipti had sent a letter which mentioned the possibility of withdrawal from the negotiations, but there were still realistic options for talks to continue.
The bids for the acquisition of the stake were originally submitted by three bidders on 4 January. Hungary's Magyar Telekom (a subsidiary of Deutsche Telekom) dropped out of the race in mid-January after failing to improve on its original bid.
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