May 22, 2014 / 6:55 AM / 4 years ago

UPDATE 1-Slovenia's Telekom Q1 net profit falls 19 pct

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LJUBLJANA, May 22 (Reuters) - Telekom Slovenia, the country’s largest telecoms operator which is due to be privatised by the end of the year, said group net profit fell 19 percent in the first quarter due to lower margins.

Net profit fell to 12.2 million euros ($16.67 million), while sales rose by 2 percent to 193.9 million euros, Telekom said on Thursday.

“The conditions on the market of fixed and mobile communications remain uncertain... The risk of migration of business and residential users to competitive networks remains elevated,” Telekom said.

Last week Slovenia invited non-binding bids for the purchase of 72.75 percent of the state-controlled company.

Sources close to the process told Reuters in December that private equity groups and companies such as Deutsche Telekom and Telenor could be interested. ($1 = 0.7318 Euros) (Reporting By Marja Novak; Editing by Erica Billingham)

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