Slovenia’s telecom provider Telekom Slovenije stated on Nov. 4 that the sale of its member IPKO Kosovo had been annulled.
According to the announcement, the procedure ended without a buyer being chosen and IPKO will remain a part of this group.
“In line with provisions of the Rules of the Ljubljana Stock Exchange and applicable legislation, Telekom Slovenije informs the public that as of today it has stopped the sale of 100% of its shares in Kosovo within IPKO Telekomunikacije.
The procedure was concluded without the selection of a buyer, and IPKO Telekomunikacije will remain a part of Telekom Slovenije Group,” reads the statement.
Telekom Slovenije launched the sale of IPKO in mid-July 2019. When the sale procedure was initiated in mid-2019, Telekom Slovenije explained it by its telecommunication strategy for further consolidation of operations through expansion or disinvestment.
Telekom Slovenije became the sole owner of IPKO in 2018, when it acquired the remaining 7% stake in the company still controlled by minority shareholders at the time.
In mid-March 2018, the Slovenian company secured EUR15m for increasing the Kosovo subsidiary’s capital, website B92 reports.
IPKO, which was founded in December 2007, is the leading fixed telephony provider in Kosovo and has a considerable share of the mobile telephony sector. It employs more than 500 people.
According to its 2018 business report, that year IPKO held 44.4% of the market in broadband fixed telephony subscriptions, whereas in mobile telephony its share was 39.2%.