June 3, 2015 / 9:52 AM / 5 years ago

UPDATE 1-Cinven says Telekom Slovenia bid valid until June 10

(Updates with EBRD statement, details, background, share price)

By Marja Novak

LJUBLJANA, June 3 (Reuters) - Investment firm Cinven said on Wednesday its bid for Slovenia’s largest telecoms provider, state-owned Telekom Slovenia, is only valid until June 10.

Cinven is the only bidder for Telekom Slovenia and has offered up to 130 euros per share, according to Reuters sources, which would value the company at 850 million euros ($945 million).

Cinven also said it had invited the European Bank for Reconstruction and Development (EBRD) to participate in the privatisation of Telekom.

“The EBRD is currently considering Cinven’s offer to finance a portion of the acquisition by providing possibly debt and/or equity,” the EBRD said in a statement, adding it had not yet received “any approvals” regarding its potential involvement.

Telekom is the largest of 15 companies the Slovenian government earmarked for privatisation in 2013. So far, just four of those firms have been sold.

Cinven is bidding for a 72.75 percent stake controlled by the government but will later have to offer to buy the rest of the shares at the same price, according to Slovenian law.

Late on Tuesday, parliamentary boards of finance and monetary policy and the economy rejected an initiative from the opposition centre-left United List party to stop the sale due to an alleged lack of transparency over the procedure.

Government investment fund SDH, which is coordinating the privatisation, said on Tuesday that a decision on the sale will be reached in a few days.

Shares of Telekom fell by 2.46 percent to 97.05 euros by 0916 GMT while the blue-chip SBI index lost 0.31 percent.

Slovenia had planned to sell Telekom in 2008 but cancelled the sale saying the bids were too low.

$1 = 0.8989 euros Editing by David Clarke

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