Serbia’s current government will not privatise incumbent Telekom Srbija, minister of economy and regional affairs Neboisa Ciric has been cited saying.
The government cancelled a privatisation process last month after a E1.1bn bid by Telekom Austria for a…
Serbia’s current government will not privatise incumbent Telekom Srbija, minister of economy and regional affairs Neboisa Ciric has been cited saying.
The government cancelled a privatisation process last month after a E1.1bn bid by Telekom Austria for a 51% stake was rejected as it fell short of the minimum price of E1.4bn set by the authorities.
According to media reports, the government plans to give free shares to employees and trade the operator on the Belgrade stock exchange.
Serbia owns 80% of the telecoms incumbent, while Deutsche Telekom-owned OTE controls the rest.
The government was advised by Citigroup, while Telekom Austria is advised by Bank of America Merrill Lynch and Raiffeisen Investment.
The authorities did not reply to a request for comment before press time.
