Former Serbian president Boris Tadic becomes advisor at Telenor

By bne IntelliNews November 21, 2013

Former Serbian president Boris Tadic has become a member of Norway’s Telenor advisory panel for Europe, daily Blic reported on Nov 21.

Tadic told Blic his new engagement has no connection with his political carrier, adding he already participates in a number of advisory institutions across the world.

Tadic also rejected the daily’s initial interpretation of the news, which claimed the former president found a new employment at Telenor. “I became a member of their ad-hoc advisory body that will meet once or twice a year. I continue to be engaged in politics in Serbia and in international institutions,” he clarified in a later statement.

According to him, the sectors of telecommunications and energy have major impact on politics and political developments, while people in Serbia still have little understanding of this. Therefore, he accepts as a challenge these two sectors, as well as the understanding of how one of the largest companies in the world (Telenor) functions.

Tadic and his Democratic Party (DS) were defeated at the latest general and presidential elections in Serbia held in May 2012. As a result DS lost power and turned into opposition - shortly after in November 2012 Tadic stepped down as a party leader and remained an honorary DS president. He had spent eight years as Serbia’s president and also eight on top of DS (2004-2012 in both cases).

Tadic declined to tell Blic whether he intends to engage more actively in politics and in DS, saying this is a subject to be discussed at another occasion.

Telenor entered Serbia in July 2006 when it bought existing mobile operator Mobi 063 for EUR 1.5bn. In 2011, Telenor became the leading mobile operator in Serbia in terms of revenue for a first time since entering the country, outperforming state-controlled Telekom Srbija. The two of them compete also with Vip Mobile, owned by Telekom Austria - the youngest operator in Serbia.

Moreover, Telenor Serbia agreed in April 2013 to buy a local bank, acquiring 100% of the shares of Belgium's KBC subsidiary in Belgrade. The deal was executed in partnership with Societe Generale Srbija, which on the other hand agreed to acquire KBC Banka’s key assets and deposits. Telenor is not expected to get involved into classical banking (considering its core business is telephony services) but most likely aims to develop electronic and Internet retail banking. The Norwegian company already has a bank in Pakistan.

Related Articles

IPO of Romania’s RCS&RDS completed at low price

The 21.7% IPO of Digi Communications, the parent company of Romanian diversified telecoms company RCS&RDS, was completed at the price of RON40 (€8.78), the deal intermediaries informed ... more

South Africa’s MTN to invest $350mn in Iranian broadband

South Africa’s MTN said it has agreed, on a non-binding and preliminary basis, to invest an initial $350mn into Iranian fixed broadband provider Iranian Net. The investment will give ... more

Turkish court rejects Wikipedia appeal over blocked site access

An Ankara court on May 5 rejected an appeal lodged by Wikipedia to lift the ban on access to the online encyclopaedia introduced on April 29, state-run news service Anadolu reported. The ... more

Register here to continue reading this article and 2 more for free or purchase 12 months full website access including the bne Magazine for just $119/year.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

To continue viewing our content you need to complete the registration process.

Please look for an email that was sent to with the subject line "Confirmation bne IntelliNews access". This email will have instructions on how to complete registration process. Please check in your "Junk" folder in case this communication was misdirected in your email system.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

If you have any questions please contact us at sales@intellinews.com

Subscribe to bne IntelliNews website and magazine

Subscribe to bne IntelliNews website and monthly magazine, the leading source of business, economic and financial news and commentary in emerging markets.

Your subscription includes:
  • Full access to the bne content daily news and features on the website
  • Newsletters direct to your mailbox
  • Print and digital subscription to the monthly bne magazine
  • Digital subscription to the weekly bne newspaper

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

bne IntelliNews
$119 per year

All prices are in US dollars net of applicable taxes.

If you have any questions please contact us at sales@intellinews.com

Register for free to read bne IntelliNews Magazine. You'll receive a free digital subscription.

Already a subscriber or registered - click here to recover access.

If you a IntelliNews Pro user - click here to login.

Thank you. Please complete your registration by confirming your email address.
A confirmation email has been sent to the email address you provided.

IntelliNews Pro offers daily news updates delivered to your inbox and in-depth data reports.
Get the emerging markets newswire that financial professionals trust.

"No day starts for my team without IntelliNews Pro" — UBS

Thank-you for requesting an IntelliNews Pro trial. Our team will be in contact with you shortly.

Dismiss