June 1 (SeeNews) - Telekom Slovenije [LJE:TLSG] paced the decliners among the SBITOP benchmark index components of the Ljubljana bourse on Monday, closing down 2.5% at 97.5 euro ($106.2).
The last time the stock dipped below 100 euro was on July 16, 2013. The company's market capitalization - which totaled 673 million euro at the end of the trading day on Monday, has dropped by 36% in the past year.
On April 14, Slovenian state holding company SDH - which is coordinating the sale process for a 72.75% stake in the telco, said the sale process had drawn only one binding bid. Private equity fund Cinven later confirmed it had placed the offer. The stock is down 28% since April 1.
On May 21, SDH said Cinven had sweetened its bid and that a decision on the sale of the Telekom Slovenije stake was expected to be made within two weeks.
Telekom Slovenije's consolidated net profit dropped to 1.6 million euro in 2014 from 51.1 million euro a year earlier due to the effects from one-off events.
In 2013, Telekom Slovenije was placed on a list of 15 state firms earmarked for privatisation.
Cinven, set up in 1977, has offices in Guernsey, London, Frankfurt, Paris, Milan, Luxembourg and Hong Kong.
($=0.9184 euro)