LJUBLJANA (Slovenia), February 13 (SeeNews) – Majority state-owned Telekom Slovenije [LJE:TLSG] said on Thursday it has submitted for approval to the country’s finance ministry an application for long-term financing in the amount of 100 million euro ($109 million).
The company plans to obtain the funds from the European Investment Bank as a non-binding offer has already been submitted to the lender, Telekom Slovenije said in a filing with the Ljubljana bourse.
“The obtained funds will allow Telekom Slovenije to finance the expansion and upgrade of its fibre optics access network in Slovenia, which will become the infrastructure foundation for its future telecommunication activities,” the company noted.
Telekom Slovenije said it is also replacing its copper network with the fibre optics access network in order to provide higher internet access speed and a state-of-the-art broadband content user experience.
In December, Telekom Slovenije said it expects the group to make a net profit of 27.5 million euro on operating revenues of 676 million euro in 2020.
The Republic of Slovenia is Telekom Slovenije’s majority shareholder, controlling 62.54% of the company’s shares as of December 31, 2019, according to the company's website
Telekom Slovenije shares traded at 58.8 euro on Thursday, up 0.68%.
($ = 0.91732 euro)