The majority of Europe's share indexes are at least ten percent higher than what they were at the beginning of the year. At the same time Slovenia's SBI TOP Index fell by a good two percent. Most of the blame goes to Telekom Slovenija's shares, which have fallen from 145 euros to 93 euros this year, that's by 35 percent. Foto: BoBo
The majority of Europe's share indexes are at least ten percent higher than what they were at the beginning of the year. At the same time Slovenia's SBI TOP Index fell by a good two percent. Most of the blame goes to Telekom Slovenija's shares, which have fallen from 145 euros to 93 euros this year, that's by 35 percent. Foto: BoBo

All the fidgeting surrounding the sale of Telekom Slovenija is reducing the value of Telekom's shares and playing with investors’ nerves. The SBI TOP Index has fallen to its lowest point this year.

On Monday the value of the main share index at the Ljubljana Stock Exchange fell by 1,34 percent, to 766 points. Two months ago the SBI TOP Index was at the very top, while now it trails by eight percent. The rate of Telekom's shares, which was around 150 euros last year, has now fallen 6 percent, to 93,30 euros. The shares of the Triglav insurance group have also considerably decreased in value. One of the rare shares which haven't fallen are the shares of pharmaceutical company Krka. The rate is still at 68 euros. There was more trade with Krka's shares on Monday (483 thousand euros) than with all the rest of the shares in the first level quotation list.

Telekom trade modest
"The investors' reaction to the Telekom shares is a reflection of the most recent "delays" in the process of the company's sale. Investors have assessed that there is high probability that the process will be postponed for at least a few more months, due to the amended Cinven purchasing bid. As a consequence, the value and rate of the Telekom shares has fallen again, even below the one hundred euro mark. Trading with the shares at the stock exchange was modest (31 trades valued at a total of 128 thousand euros), but was can’t talk of a mass withdrawal of investors. However, we cannot expect many offers at that level," is what Uroš Ožbolt from the Alta investment service told MMC.