Serbia reportedly to abandon sale of telecom.

By bne IntelliNews March 28, 2011
Serbia will not sell the majority stake in telecoms operator Telekom Srbija this year, Novosti daily reported citing government sources. The government's working group in charge of selling Telekom Srbija is expected to come up with an official decision on the sale today, but cabinet members are in favor of cancelling the tender, Novosti's sources claimed. The sources noted that the offer of Telekom Austria is not valid, since the Austrians failed to offer the minimum price that the government had set for the stake. According to Novosti, Greek OTE is also against selling the majority stake in the Serbian telecom for less than EUR 1bn. However, OTE might decide to sell its 20% stake in Telekom Srbija independently, Novosti wrote. According to the current legislation and OTE's agreement with the state, the Greek company is obliged to offer its stake to the Serbian government first. As recalled, Telekom Austria was the only bidder at the tender for 51% in Telekom Srbija. Telekom Austria offered EUR 800-950mn for the stake and pledged to invest another EUR 450mn in the next three years. The Serbian government had set EUR 1.4bn as the minimum price for the stake.

Related Articles

Serbia's external debt up 4.7% y/y to EUR 25.4bn at end-Feb 2013.

Serbia's foreign debt rose an annual 4.7% y/y to EUR 25.4bn at end-February after climbing 6.6% on the year in January, central bank data showed. In monthly terms, however, the external ... more

Vip Mobile Serbia signs five-year managed services deal with Ericsson.

Swedish company Ericsson said it has signed a five-year managed services contract with Vip Mobile - the Serbian arm of Telekom Austria Group. The agreement includes field maintenance services for ... more

Telenor and Societe General possible buyers of Serbia's KBC Banka - report.

Norwegian telecommunications firm Telenor and France's Societe General are seen as possible buyers of the Serbian unit of Belgium's KBC Group, which has been on sale for several years now, a ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss