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Slovenia Weekly

Increasing number of opportunities for cooperation



Telekom urgently needs a strategic owner if it is to remain competitive and survive in the demanding telecommunications market. Photo: STA
In the last few weeks, everything in Slovenia has revolved around the sale of Telekom Slovenia. There has been much talk about whether the decision-making was based on politics or expertise, yet we should not forget that it is a decision taken by the National Assembly in the previous term. Regardless of criticism about the price that has been offered, speculation about whether it could be higher and guesses as to whether the buyer is strategic, this is the last act in the privatisation of the company. PM Cerar said that too many opportunities have been missed for us to be able to afford another one, because the company urgently needs a strategic owner if it is to remain competitive and survive in the demanding telecommunications market.

The only offer for Telekom was made by a British private investment fund, Cinven. The supervisory board of the Slovenian Sovereign State Holding approved their initial offer in the middle of the week, but has not discussed the amendments to it, so both sides will coordinate the final text of the contract next week, which will provide the basis for the sale.

Recently, the Slovenian PM said that with the government’s action clearly show that the privatisation process and foreign investment procedures can continue, but only in accordance with a strategy that preserves companies, and investment and insurance companies owned by the state, if the government deems this is crucial and in line with relevant expert criteria.

In order to develop economic potential partners and find new ones the government is also looking at markets that are not traditional or strong for Slovenian industry.

Foreign minister Karl Erjavec was recently on an official visit to Spain to strengthen both political relations and the awareness that the economic recovery in both countries offered a good opportunity further improve economic cooperation. The FM also opened the Slovenian consulate in Seville.

Relations with the markets of Latin American countries and the Caribbean were strengthened by the PM at the EU-LAC Summit in Brussels. With the president of Cuba, Miguel Diaz Canel, he established that Cuba is interested in cooperation with Slovenia on renewable sources of energy, biotechnology and tourism, while with the Colombian President, Juan Manuel Santos Calderon more concrete cooperation between the countries was discussed. Colombia is interested in gaining a greater economic presence in Slovenia (in ICT, renewables, medicine equipment, foodstuffs industry and water and forest management).

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Every friday the Slovenian Weekly Newsletter brings you the latest updates on the work of the Slovenian Government.