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Telekom Slovenije completes sale of Planet TV to Hungary's TV2 Media

Author Radomir Ralev
Telekom Slovenije completes sale of Planet TV to Hungary's TV2 Media TV, entertainment

LJUBLJANA (Slovenia), October 1 (SeeNews) - State-controlled Telekom Slovenije [LJE:TLSG] said that it has completed the sale of the entire capital of its subsidiary Planet TV to Hungary's TV2 Media Csoport Zrt for 5 million euro ($5.9 million).

Telekom Slovenije included the full expenditure from the impairment of assets and the receivables from loans of Planet TV in its first-half financial report, and shall record a positive effect from the transaction after receiving the purchase sum, Telekom Slovenije said in a bourse filing on Wednesday.

The Slovenian company signed in July an agreement for the sale of Planet TV to TV2 Media. Under the agreement, TV2 Media will assign all of its rights and obligations from the share purchase agreement to its Slovenian subsidiary TV2 Adria. However, TV2 will remain a guarantor for the fulfillment of all the obligations by TV2 Adria to Telekom Slovenije.

Telekom Slovenije launched in January a procedure to increase Planet TV's share capital with the help of a strategic partner. In March, it added to the procedure an option for the sale of its 100% shareholding interest in Planet TV to the potential investor.

($ = 0.852032 euro)

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