Mexico-based mobile operator America Movil has bought the tender documents for the sale of a 51% stake in Telekom Srbjia, according to reports citing Vecernie Novosti.
A spokesperson for America Movil declined comment.
If the report proves to be true,…
Mexico-based mobile operator America Movil has bought the tender documents for the sale of a 51% stake in Telekom Srbjia, according to reports citing Vecernie Novosti.
A spokesperson for America Movil declined comment.
If the report proves to be true, the Carlos Slim owned Latin American operator would join Western European incumbents Deutsche Telekom, Telekom Austria and France Telecom in pursuing the asset. It would in fact be the operator’s first incursion into Europe.
A source at OTE neither confirmed nor denied the report’s claim that the Greek incumbent had decided to sell off its interest in Telekom Srbija as part of the 51% stake, but said: “There has been no final decision”.
The German incumbent is rumoured to be advised by Goldman Sachs, while Telekom Austria is expected to award the mandate to Bank of America Merrill Lynch, with whom it has previously worked.
Citigroup is advising the government on the process, and has reportedly valued the asset at E2.43bn.
Serbia owns 80% of the telecoms incumbent, while Deutsche Telekom-owned OTE owns the rest.
Last week, the Serbian Finance Ministry extended the deadline for buying tender documents from November 26 until December 10, citing significant interest on the part of telecoms operators.
