The SDH supervisory board discussed and later accepted the initial offer from Cinven, but without Tuesday's amendments which the SDH management deems unacceptable. The British equity fund amended its final offer for the majority stake in Telekom a day before the session of the SDH supervisory board, because of a delay in the procedure in the regulatory approval of Telekom's acquisition of mobile service provider Debitel and the transactions with its Macedonian subsidiary. The SDH found the changes unacceptable.

Cinven reported this morning that it had received an official confirmation, that the SDH accepted its offer from the 20th of May. However, Cinven "sees the amendments to the initial bid as an integral part of the offer, without which it could not resume the procedure of finalising the transaction. On the basis of the information received from the SDH, in which the amendments have not been mentioned, Cinven understands that the bid has not been accepted."

The fund adds that it is convinced that the amendments are "to the benefit of all the involved parties, as they reduce the risks for the successful finalising of the transaction". It also adds that the amendments "given the necessary regulatory approval of the deals in Slovenia (the acquisition of Debitel) and Macedonia (the merging of the One telecommunications company), would not change the economic terms of the bid".