LJUBLJANA Aug 30 Slovenia is seeking a
financial adviser to help on the sale of its stake in telecoms
operator Telekom, as the country attempts to avoid an
State-owned investment fund SOD said on Friday 15
international financial institutions would be invited to
participate in a tender to advise on the sale, adding it expects
to make a choice at the start of October.
SOD, which holds 4.3 percent of Telekom shares, will
coordinate the sale in agreement with the government and a
number of other state-owned firms, which together hold over 75
percent of the company.
Telekom is the largest of 15 firms that the government
earmarked for sale in May. Shares of the company, which has a
stock market value of 725.4 million euros ($956.5 million),
closed unchanged at 111 euros, before the statement on the
search for an adviser on the sale was released.
SOD did not say when the sale of Telekom could be completed.
The government also plans to sell its holdings in the
country's second-largest bank Nova KBM ,
airline Adria Airways and the Ljubljana airport.
Slovenia was badly hit by the global crisis due to its
dependency on exports and has been struggling with recession
since last year.
It could become the next eurozone member to seek a bailout
because its banks, which are mainly state-owned, are choked with
some 7.5 billion euros of bad loans, equivalent to 21.5 percent
($1 = 0.7584 euros)
(Editing by David Holmes)