October 3 (SeeNews) - Slovenia's government investment firm SDH said on Friday it will continue with the privatisation of incumbent telco Telekom Slovenije [LJE:TLSG] in the aftermath of the clear support for the sale process shown by the country's new government.
SDH, which is overseeing the Telekom Slovenije sale, told SeeNews in an email it will coordinate the new timeline of the process with legal and financial advisors in due course.
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The pre-selection phase for the sale of a 72.75% stake in Telekom Slovenije that served to confirm technical eligibility was followed this summer by the launch of a second phase, involving a narrower group of candidates that had submitted non-binding bids. The sell-off process was then placed on hold immediately prior to the snap vote that Slovenia held on July 13.
In early September, SDH told SeeNews the new Slovenian government needs to show clear support before the process can continue.
Rob Irving, a partner at international law firm White&Case, which is advising the government in the sell-off process, told SeeNews in a recent interview that both strategic and financial investors had reached the second phase of the process.
In June 2013, the Slovenian parliament endorsed government plans to sell state-owned stakes in 15 companies, including Telekom Slovenije, lender NKBM, flag carrier Adria Airways and the operator of the Ljubljana airport.