The investment group Cinven has specified to Telekom Slovenije that its takeover bid for the state-owned operator is only valid until June 10th.
Following claims from the Slovenian state that it was not bidding enough for Telekom Slovenije, Cinven increased its offer to around €130 a share. This places the total value of the operator at €850 million.
While Cinven is currently the sole bidder, it is gauging whether the European Bank of Reconstruction and Development (EBRD) would be interested in a role in the acquisition. The bank stated that it is “currently considering Cinven’s offer to finance a portion of the acquisition by providing possibly debt and/or equity.”
As well as being the country’s leading telecom operator, Telekom Slovenije is the largest of 13 state-owned firms that the government scheduled for privatisation back in 2013. Opposition party United List recently attempted to derail the sale over lack of due transparency; however this claim was thrown out by parliamentary boards.
If Cinven’s bid is accepted, it has stated that it will invest heavily in building out a 4G network in the future.