The procedure was concluded without the selection of a buyer, so IPKO shall remain part of the Telekom Slovenije Group.

Telekom Slovenije announced yesterday that it has stopped the sales procedure of its 100% share in the Kosovo-based IPKO Telecommunications. As a reminder, in July of 2019 Telekom Slovenije announced that they have launched the activities to sell their Kosovo subsidiary. However, the company yesterday added that the procedure was concluded without the selection of a buyer, and IPKO Telecommunications shall remain part of the Telekom Slovenije Group.

It is worth adding that in the recent times, IPKO was a burden to the company’s profitability, while as of H1 2020 IPKO observed a 11% decrease in operating revenues to EUR 26.46m. At the same time, IPKO’s EBITDA stood at EUR 13m, representing a decrease of 7%, while the company recorded a net loss of EUR 2.5m.

We note that Telekom Slovenije should publish their 9M report on Thursday (5 Nov), according to their financial calendar.