BUDAPEST -(Dow Jones)- Hungary's incumbent telecommunications company Magyar Telekom said Friday that it filed a binding bid in the public tender of the Republic of Slovenia for the sale of an equity stake in Telekom Slovenije.
Magyar Telekom submitted the bid following the completion of the due diligence process.
The Slovenian government is looking to sell a 49.13% stake in Telekom Slovenije through the tender and invited seven bidders for the final round.
Of the seven investors, T-Hrvatski Telekom based in Croatia withdrew from the race Thursday.
Both Magyar Telekom and T-Hrvatski Telekom are majority-owned by Deutsche Telekom. The other bidders are not yet known.
Telekom Slovenije had operating revenues of EUR587 million in the first three quarters of 2007, up 5% on year. The company's earnings before interest, taxes, depreciation and amortization, or Ebitda, notched EUR229.4 million, up 5% on year.
Deutsche Telekom entered the Central and Eastern European market over a decade ago, taking a stake in the fixed-line business of Magyar Telekom. It has since built majority stakes in mobile providers in the Czech Republic, Poland, Croatia and Slovakia.
In Croatia, Slovakia, Hungary, Macedonia and Montenegro Deutsche Telekom is active in the fixed-line business too.
-By Edith Balazs and Archibald Preuschat, Dow Jones Newswires; +361-267-0623; edith.balazs@dowjones.com(END) Dow Jones Newswires
Posted to the site on 4th January 2008
Posted to: www.cellular-news.com/story/28404.php