Telekom Slovenije is the largest of 15 firms that were slated for privatisation in 2013 with Deutsche Telekom seen as the frontrunner among prospective buyers as the process is nearing its completion. Also in final stages is the process to sell the NKBM bank with Hungary's OTP Bank tipped as the likely buyer.

Aimed at consolidating public finances, while also seen as one of the commitments made to the EU, the planned privatisations divided the country into two camps. But analysts are warning that the issue has been too politicised with each block highlighting extremes.

Those in favour of privatisation argue that the country is in desperate need of fresh capital, as well as fresh know-how, international links, new technologies and new approaches, all of which they associate with foreign investment.

They also cite statistics showing that foreign-owned companies on average perform better, are more successful in foreign markets and pay higher salaries to their employees.

The opponents, including from the ranks of trade unions, leftist parties as well as leftist economists, academics and public figures, meanwhile feel the process is rash and ill-thought through and could lead to the fire-sale of Slovenian companies as market conditions remain uncertain.

Aside from the impact the change of ownership could have on jobs and future development of the companies, the opponents also argue that the procedures are opaque despite assurances to the contrary and that they involve a number of particular interests.

The state has offloaded its stakes in four of the 15 companies on the priority list for privatisation, with the sale of airport operator Aerodrom Ljubljana to Germany's Fraport, which outbid France's Vinci Airports, having attracted the most attention.

Little concern was expressed as a 54% stake in car electronics group Letrika was sold to German automotive parts group Mahle, largely seen as a strategic owner, and the sale of laser maker Fotona to a US buyer went by without capturing much public attention.

But there was considerable controversy over the sale of coatings maker Helios to Austrian group Ring International following allegations of potential abuse of takeover legislation and with worker representatives complaining of pressure exerted by the new owners.

The management of the company has later managed to alleviate tensions in social dialogue and the allegations of abuse of takeover legislation by the new owners stopped after the snap general election in July.

Privatisation was a major topic of the campaign preceding the vote with the election winner, the Party of Miro Cerar (SMC) calling for prudent privatisation and suggesting telecommunications infrastructure should be exempt when selling Telekom Slovenije, while the outgoing government even froze sale procedures.

The order suspending privatisation was soon revoked but it provoked a lively debate as to what message Slovenia was sending to prospective investors. The new government rushed to reassure EU officials and international financial markets that the scheduled privatisations would go ahead.

Adding fuel to the heated privatisation debate ahead of the general election and reviving controversy about the so-called national interest was the sale of Slovenia's largest grocer Mercator to Croatia's food group Agrokor.

Despite pressure by trade unions, suppliers and the general public, a consortium comprising beverage group Pivovarna Laško and several banks sold a combined 53% in Mercator to Agrokor, which went on to increase its stake to 81% in the subsequent public bid, paying a total of EUR 261.5m for the whole stake. It also provided a subordinate loan of EUR 220m to Mercator.

Although on a much lesser scale, a debate about Slovenia's national interest was rekindled earlier this month as Laško sold the famed mineral water producer Radenska to the Czech company Kofola and the P&P group owned by the Polič family from Slovenia for slightly under EUR 52m.

Despite opposition by the public, the privatisation drive is expected to continue. However, pundits warn that before privatisation resumes the government and parliament should adopt the long-delayed strategy for the management of state assets, along with a classification of state assets.

Economist Peter Kraljič says the government must also speed up procedures to complete the formation of the Slovenia Sovereign Holding (SSH), and he wonders whether the list of 15 companies slated for privatisation was in accordance with the spirit of the SSH act, given the absence of an asset management strategy.

The former McKinsey & Company boss believes the strategy is needed so that any future sale would be conducted in a predictable and organised way and to prevent governments from interfering in the procedures.

Kraljič deems it positive that the state has started withdrawing from companies at last and hopes the government is serious about continuing with privatisations.

But he also wonders why Telekom Slovenije is being sold, for example, and what price the state can obtain for its stakes in companies given uncertain conditions on the market. He also wonders whether the proceeds will only be used to reduce the budget deficit or to finance growth and jobs.

Meanwhile, Branko Žibret, a partner at management consultancy A.T. Kearney, says the key task in forming a strategy for the management of state assets, which the government is expected to adopt in January, is to put in utmost effort to establish a good corporate governance system.

Considering the privatisation debate is overly politicised, he says that Slovenia now needs some quick success privatisation stories. "Well implemented procedures with good prices will give Slovenia time to reflect on strategy, and we need a confidence for a comprehensive debate on privatisation."

He does not think normal debate on privatisation is possible now and regrets it is being conducted along extreme lines, either in defence of the national interest on the one hand or a position favouring selling everything on the other. But he agrees the poor management of state assets is the key problem.

Trade unions hope asset management will improve with the creation of a special body at the SSH that will comprise representatives of all major trade unions in the country. Expected to be formed in January, the economic and social committee with the SSH is expected to give unions more say in privatisation.

The government has accepted some of the unions' demands to enhance the role of the body. The boss of the ZSSS confederation of trade unions, Dušan Semolič, says this does not mean they will be able to block a sale, but that they will be involved in procedures and will be able to place demands.

He says the goal is to prevent "fire-sale of some systems" that are generating big profits for the benefit of the state budget, while the unions' biggest concern is that new owners will build profitability on reducing labour costs.