Cinven confirms bid for Telekom Slovenije

Telekom SlovenijeInvestment group Cinven has confirmed that it has placed a binding offer to acquire the Slovenian government’s stake in local telco Telekom Slovenije.

Cinven said its intentions for Telekom Slovenije are to invest significantly to upgrade the network, to stop the Company’s revenue decline, stabilise and then grow revenues sustainably for the long term.

The company said it would invest in the operator’s fibre networks to deliver high-speed internet across its footprint and would increase its 4G coverage, with a target to cover 90% of the Slovenian population.

“We believe that Telekom Slovenije represents an attractive, although challenging, investment opportunity, which fits well with Cinven’s experience in the telecoms sector,” said Cinven.

Cinven did not reveal any information about the value of Telekom Slovenije implied by its offer, in line with the rules of the country’s privatisation process.

It said it was engaged with the government body responsible for the state’s stake in the operator and looked forward to concluding a deal on mutually agreeable terms.

“Telekom Slovenije is a company that Cinven can help prosper and make more competitive in the future. We intend to restore Telekom Slovenije’s position in the market through significant investment. We intend to invest in the development of the Company’s telecommunications infrastructure and network to deliver the highest quality broadband fixed and mobile networks for Slovenian citizens and businesses,” said Nicolas Paulmier ,partner at Cinven.

“In this way, we believe we can support Slovenia’s competitiveness in the region and in Europe, and we can make a long-term success story out of Telekom Slovenije that will showcase the attractiveness of Slovenia to global investors.”