May 21 (SeeNews) - Slovenian state holding company SDH said on Thursday it has received an improved final offer from private equity fund Cinven for a majority stake in Telekom Slovenije [LJE:TLSG].
The negotiations have not yet been completed and given the complexity of the case, a decision on the sale of the Telekom Slovenije stake is expected to be made within two weeks, SDH said in a statement.
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Last month, SDH, which is coordinating the sale process, said a single binding bid had been handed in for the sale of a 72.75% stake in the incumbent telco. Cinven later confirmed it had placed the offer.
Telekom Slovenije's consolidated net profit dropped to 1.6 million euro ($1.8 million) in 2014 from 51.1 million euro a year earlier due to the effects from one-off events.
In 2013, Telekom Slovenije was placed on a list of 15 state firms earmarked for privatisation.
Cinven, set up in 1977, has offices in Guernsey, London, Frankfurt, Paris, Milan, Luxembourg and Hong Kong.
($=0.8952 euro)