Although the mentioned fund is the only tenderer for purchase of the Slovenian telecommunication operator, a lot of opposition to the purchase is present within the Slovenian politics. At first the problem was the price which was at approximately 110 euros considered too low; consequently the fund sweetened it.

Unofficially Cinven is offering 110 euros per share, and additional 15 euros in case of a favourable solution of Telekom's actions for indemnity, and additional five for the business results. The price also includes 10 euros of dividend per share. Lately the doubts are arising whether Cinven can be considered a strategic partner.

Today the company responded to such accusations. In their public statement they stressed that they are offering 60% more for a share than Slovakia obtained a week ago for their telekom. They are convinced of being a strategic investor, and again underlined their intention to make substantial investment, and thus transform Telekom Slovenija a national telecommunciations champion. They confirmed that the European bank for Development and Research (EBRD) has been invited to cooperate.

The bank confirmed that the possibility of cooperation with Cinven is being considered, but no decision has been made yet.

Their investments are kept for years
According to Cinven, their investments in the Netherlands and in France, where they had kept their shares for seven or ten years before selling them, prove them a long-term investor. At the same time they caution about the risk that the value of the company could decrease unless it is sold, as in that case investments would most likely be on a smaller scale, and the trend of less successful business operation would thus continue, which would cause the price of shares to drop.

After June 10 they cannot assure their commitment to fulfill the binding offer due to limitations by their sources for financing.

A. Č., Translated by G. K.