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Telekom Slovenije sets up new subsidiary in Kosovo

Telekom Slovenije sets up new subsidiary in Kosovo hin255/

LJUBLJANA (Slovenia), October 17 (SeeNews) – State-controlled Telekom Slovenije [LJE:TLSG] said on Thursday it has established a new subsidiary in Kosovo,  SIOL Prishtina LLC, with the purpose of providing integrated management of the regional optic fibre network.

SIOL Prishtina LLC, 100 % owned by Telekom Slovenije, was entered into the business register of Kosovo on Wednesday, the telco said in a filing to the Ljubljana Stock Exchange (LJSE).

Matjaz Pogacnik was appointed as the director of the new company, Telekom Slovenije added.

Besides SIOL Prishtina LLC, Telekom Slovenije has another subsidiary in Kosovo - IPKO Telecommunications LLC

In July, Telekom Slovenije said it has launched activities to sell its 100% stake in IPKO Telecommunications LLC. The decision is in accordance with Telekom Slovenije group’s strategy for the 2019–2023 period, which also includes the possibility of further consolidation through expansion or disinvestment in the markets where the group operates, the telecommunications operator said at the time.

In March 2018, Telekom Slovenije became sole owner of IPKO Telecommunications, after agreeing to buy the remaining 6.89% stake in the company it did not already own.

In July, Telekom Slovenije said its consolidated net profit increased 35% year-on-year in the first half of 2019 at the group level, reaching 19.6 million euro ($21.9 million).

 The telecom operator ended the LJSE session on Thursday at 62.6 euro, down 0.63%.