Two bidders for Telekom Slovenije

Two bidders for Slovenian telco Telekom Slovenije have emerged, both with binding bids that come in under the market value of the company, according to a Reuters report.

According to Reuters, citing an un-named source, investment group Cinven and Germany telecom giant Deutsche Telekom have placed bids of about €110 a share for the company, lower than the Thursday market price of €132.60.

The source cited by Reuters said the bids had fallen below the market rate because Telekom Slovenije was experiencing a decline in profitability and because of risks from pending court cases against the operator for allegedly abusing its dominant position.

The sale of the operator has also proved politically divisive, with the centre-left Social Democrats, who are part of the governing coalition, opposing the deal.