Slovenia’s finance minister has played down reports that Cinven is acting in concert with Deutsche Telekom over the privatisation of Telekom Slovenije.

Quoted by Balkan News, Dusna Mramor said that it was no secret that Cinven ultimately plans to sell the Slovenian incumbent, with the UK private equity fund having revealed as much in statements to the media prior to the final phase in the bidding process.

It has been suggested in the local media that by acting together, Cinven and Deutsche Telekom were seeking to reduce the price of Telekom Slovenije.

Cinven confirmed in an official statement dated April 16 that it had made a binding offer for the Slovenian government’s stake in the telco three days earlier.

It said its intentions were “to invest significantly to upgrade the network, to stop the company’s revenue decline, stabilise and then grow revenues sustainably for the long term”.

Cinven was unwilling disclose the amount it has bid for Telekom Slovenije.