“The consortium informed Telekom‘s privatization committee it does not intend to submit a renewed offer by February 29 deadline and is withdrawing from the procedure,” it said in a statement.
“The main reason for this decision is disappointment over several delays in the procedure of choosing a preferred buyer,” it added.
Slovenia issued a tender for a stake in its national telecoms operator in August and was expected to reach a decision on the sale by the end of January.
But the privatization committee last week said it was still negotiating with the two remaining bidders – the international consortium and Iceland’s Skipti – and asked them to submit improved bids by February 29.
A junior coalition partner in Slovenia’s government, the People’s Party, said in January the prices offered for Telekom were around €400 ($592.6) per share, adding this was too low and urging the government not to sell.
The government and its investment funds together hold 74.13% of Telekom, which is the leading fixed-line, mobile and Internet provider in the country of 2 million people.
The government plans to keep 25% in Telekom in the long run in order to retain a say in key business decisions. (Reuters)
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