LJUBLJANA (Slovenia), February 5 (SeeNews) – Slovenia's Securities Market Agency, ATVP, has restored the voting rights in Telekom Slovenije held by the Republic of Slovenia and several state-owned entities, the telecoms services provider said on Friday.
Over three years ago, ATVP suspended the voting rights in Telekom Slovenije held by the Slovenian Sovereign Holding (SDH), the Republic of Slovenia, pension fund KAD, lender Nova Kreditna Banka Maribor, insurer Zavarovalnica Triglav and the fund for the decommissioning of nuclear power plant Krsko due to a violation of the country's takeover legislation.
All voting rights have now been reinstated, Telekom Slovenije said in a filling with the Ljubljana bourse.
In 2015, the Slovenian government amended the law to restore the state's voting rights in several companies and tighten provisions on leveraged takeovers.
Telekom Slovenije was placed on a list of 15 state firms earmarked for privatisation in 2013. Last year UK private equity fund Cinven was the sole bidder in a tender for a 72.75% stake in Telekom Slovenije, however the fund pulled out of negotiations for the conclusion of the sale process stating that the transaction was no longer economically viable.