Telekom Slovenije Eyes Macedonia’s Mobile Operator Cosmofon, Other SEE Companies

“The situation is actually favourable for takeovers. Next year we want to take steps for our further expansion,” Telekom Slovenije's public relations officer Darinka Pavlic Kamien told SeeNews.

The company is focused now on Cosmofon, but it also has other targets in the region, Kamien said, but declined to elaborate.

Telekom Slovenije has asked foreign banks for loans worth 400 million euro ($504 million) to finance its planned acquisitions, Kamien said. “We are receiving offers now and we are very satisfied with the responses,” she added. Telekom Slovenije will guarantee the loans itself.

In September, citing Greek press reports, Macedonian media reported that Greek OTE is planning to sell its Macedonia's mobile unit Cosmofon, and that it already hired consultants for the sale.

Macedonia’s Commission for Competition Protection has said that local wireless operators T-Mobile and Cosmofon hold nearly 90% of the Macedonian market, bringing them in monopoly position. The announcement came after Germany's Deutsche Telekom, majority owner of T-Mobile Macedonia, in May bought a 20% stake in OTE, owner of Cosmofon’s parent company Cosmote.

Majority state-owned Telekom Slovenije posted first-half group net profit of 48.5 million euro, up 5.0% on the year, as sales rose 9.0% to 416.4 million euro.

Shares in blue chip Telekom Slovenije gained 4.2% to an average price of 151.70 euro on the Ljubljana Stock Exchange (LJSE) on Monday amid an overall upward trend on the market.

($ = 0.794 euro)