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Magyar Telekom drops out of Slovenian privatization

Hungary’s leading telco Magyar Telekom did not boost its bid to buy into Slovenian peer Telekom Slovenije d.d., and will consequently take no further part in the company’s privatization process.

The telco giant Deutsche Telekom AG, which had been bidding for a 49.13% stake in Slovenian telcom company Telekom Slovenije d.d. through Hungarian subsidiary Magyar Telekom Nyrt, did not raise the offered price so the company quitted the tender, reported Slovenia's Telecommunication Ministry on Monday. The other two bidders, the consortium lead by Iceland-based Skipti Ltd. and the one lead by British Telecom Plc submitted new offers with considerably higher prices. The Slovenian government asked the bidders to improve their offers on January 4. The government now owns a 74.13% stake and plans to keep 25% on the long run. (Gazdasági Rádió)