The upcoming privatisation of Telekom Slovenije has attracted less interest than was previously expected, with only one bid lodged for a majority stake in the company.

Quoting two sources close to the matter, Bloomberg reports that the sole bidder was Cinven, with an offer of €120 per share.

Following the announcement by Slovenia’s state asset manager about the single bid, shares in the telco fell by 6% to €119.2, the steepest decline since Janaury 2013.

Telekom Slovenije has a market value of €779 million. This makes it the most lucrative asset in a state sell-off of over 15 companies.

Although Deutsche Telekom decided not to bid due to the value of Telekom Slovenije and regulatory issues, it may still come in with an offer at a later stage.