Bidding is underway for control of Telekom Slovenije and no fewer than eight parties have submitted non-binding offers, according to local press.

A report by Finance.si on Thursday said private equity firms Apax, Bain Capital and Providence Equity have made the highest bids so far for the Slovenian incumbent, offering between €150 and €160 per share.

A separate report by Dnevnik said that Deutsche Telekom, Russia's MTS, and Turkcell have also all submitted bids. Deutsche Telekom, seen by many as the favourite to land Telekom Slovenije, reportedly offered €140 per share.

A further four private equity firms – Apollo Global Management, Cinven, CVC Capital and PPF Group – are also said to be in the running but it is unclear which of them are among the eight that have made offers.

Slovenia's government has set a target price of €200 per share for its 72.75% stake in Telekom Slovenije. Binding offers need to be submitted by the end of August and a winner will be selected in the autumn.

It marks the second time the government has tried to privatise Telekom Slovenije.

In 2008 the process of selling a 50% stake in the operator was halted, despite interest from several strategic and financial investors, after the government failed to negotiate higher offers from the interested parties.