Investment firm Cinven has told state-owned Telekom Slovenije that its bid to acquire the company is only valid until June 10, according to Reuters.

Cinven increased its offer to acquire the company last week to approximately €130 a share, valuing the company at €850 million, after pressure from the operator’s state owners which claimed its first offer was too low.

Right now, Cinven is the only bidder, but it has sought help with financing after inviting the European Bank of Reconstruction and Development (EBRD) to participate in the proposed acquisition.

“The EBRD is currently considering Cinven’s offer to finance a portion of the acquisition by providing possibly debt and/or equity,” it said in a statement, without confirming if it was planning to go ahead.

Telekom Slovenije, the country’s largest operator, is also the biggest company of the 15 organisations earmarked for privatisation by the state in 2013.

Earlier this week, the opposition centre left United List party launched an initiative to stop the sale of the operator due to lack of transparency over the process, but this was rejected by parliamentary boards.

If the proposed deal was to go through, Cinven has said it will significantly invest in the company’s network and look to rollout out 4G in the future.

SDH, the government investment fund coordinating the sale, said it hopes to reach a decision within the next few days.