Telekom Slovenije Group d.d., Slovenia’s state-owned phone company, rose the most in more than two years in early trading on a report that 5 percent of the company may be sold.
The company advanced 10 euro cents to close at 87 euros after climbing as much as 7 percent in earlier trading, which was the biggest intraday gain since Oct. 2008. The stock, the worst performer of the benchmark SBITOP index this year, lost 36 percent of its value this year giving the company a market value of 587 million euros ($784 million).
A 5 percent stake in Telekom Slovenije may be sold as early as this week, Finance reported, without saying where it obtained the information.
The previous Slovenian government, led by then Prime Minister Janez Jansa, canceled the sale of a 49 percent stake in Telekom Slovenije in March 2008 as it deemed offers unacceptable. Skipti ehf of Iceland and a partnership of Bain Capital LLC, Germany’s Axos Capital and Slovenia’s BT Globalne storitve d.o.o. were the two bidders in the final round.
The stock reached an all-time high of 500 euros on Aug. 9 2007, according to Bloomberg data.
-- Editor: Chris Peterson, James M. Gomez