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Report: Slovenia to file official request to postpone NLB privatization

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Report: Slovenia to file official request to postpone NLB privatization

Slovenia intends to file a formal request with the European Commission to change its commitment regarding the privatization of Nova Ljubljanska banka d.d., Reuters reported Dec. 14, citing Slovenian news agency STA.

Under the request to be filed during the week ending Dec. 24, Slovenia will propose to postpone the launch of the lender's sale until the end of 2018, with the privatization process going into 2019, the country's Prime Minister Miro Cerar was cited as saying.

Three Slovenian parties that form the local government are against the lender's sale, fearing it would negatively affect their result in a general election expected to take place in June 2018, as voters may perceive keeping the state ownership of NLB as a matter of national interest, the newswire noted, citing analysts.

Slovenia was originally supposed to sell a 50% holding in NLB in 2017 and a further 25% stake in 2018 under EC conditions for the bank's 2013 receipt of state aid. However, it halted the sale proceedings for the 50% stake in June due to price concerns. In October, the EC rejected the country's bid to postpone the privatization of the bank by three years, according to Reuters. At the end of November, the newswire reported that the country hoped to get the EC's approval for the delay of the sale by the end of 2017.