Telekom Slovenije Plunges After Stake Sale Draws Sole Bidder

Telekom Slovenije d.d., the most valuable piece on Slovenia’s asset sale list, plunged the most in more than two years after the government received just one bid for a majority stake in the phone company.

The country’s state asset manager said Monday it received one binding offer for the stake, without identifying the bidder. Cinven placed the bid, two people familiar with the matter said Tuesday. The buyout firm may have offered as much as 120 euros ($128) per share, one of the people said. The shares dropped 6.9 percent to 119.2 euros by the end of trade in Ljubljana, the steepest decline since January 2013 on a closing basis, after sliding as much as 10 percent.