Presentations to potential investors are completed and the potential bidders "will prepare binding bids in the customary time frame," the SSH told the STA on Thursday.

Deutsche Telekom is considered the most likely, and the most desired, bidder for Slovenia's no. 1 telecoms firm.

Four financial funds have also been in the running, but Bain Capital has reportedly thrown in the towel and Apax is allegedly considering calling it quits as well.

This would leave only the US asset manager Providence and Cinven, a European private equity firm.

While the SSH has not provided a time frame, business daily Finance reports that bids are due by the end of January.

The privatisation is to be wrapped up in the first half of 2015.

Telekom currently has a market capitalisation of EUR 920m but analysts believe the bidders will have to offer a significant premium over the market price.