LJUBLJANA (Slovenia), June 16 (SeeNews) – UK private equity fund Cinven said on Tuesday conditions are no longer in place to proceed with the acquisition of Telekom Slovenije [LJE:TLSG] after a solution to deal with the uncertainty around the merger of the telco's Macedonian operations could not be agreed with Slovenian state holding company SDH.
On Monday, SDH, which coordinates the privatization process in the country, said it does not accept the additional conditions imposed by Cinven for the acquisition of a 72.75% stake in Telekom Slovenije.
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"On that basis, the conditions to proceed with the transaction now are not in place. Cinven remains interested in the privatisation of Telekom Slovenije and open to re-evaluate the situation in the coming weeks, once the outcome of Macedonia is clarified," Cinven said in a statement.