The Slovenia Times

Telekom shareholders get EUR 4.50 per share


This is in line with the proposal by management and significantly below EUR 14.30 per share that the shareholders secured last year, when Slovenian Sovereign Holding (SSH) sidelined the management's proposal and more than doubled the proposed dividend payout.

The company also got two new supervisors as Igor Rozman, a director at public broadcaster RTV Slovenija, and Barbara Cerovšek Zupančič, an executive at the bank DBS, were appointed to the supervisory board at the proposal of SSH to replace two supervisors who have resigned.

The vote capped a weeks of public relations activities prompted by the candidacy of Andrej Vizjak, who used to work for international consultancies AT Kearney and PWC but is now an independent financial consultant.

His business ethics were widely questioned in a series of articles, leading to him withdrawing the candidacy for the supervisory board just before the annual general meeting. Vizjak had originally been nominated by the management and supervisory boards.

The AGM caps months of increased activity at what is one of the biggest and most important companies in state ownership, one where the battle for positions is always fierce and determined by political loyalties.

It started with the departure of CEO Rudolf Skobe in April, who ended his term prematurely quoting loss of trust "among key stakeholders". He was replaced with Matjaž Merkan earlier this week.


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