The Serbian government has agreed to pay €380m to buy back a 20% stake in Telekom Srbija – a move which will see it regain full ownership and control of the incumbent telecom.
Greece’s OTE has owned the shares since 1997, when the company was…
The Serbian government has agreed to pay €380m to buy back a 20% stake in Telekom Srbija – a move which will see it regain full ownership and control of the incumbent telecom.
Greece’s OTE has owned the shares since 1997, when the company was privatised. Deutsche Telekom has a 40% stake in OTE.
Telekom Srbija announced in a recent statement that its board had approved “the key elements of the agreement”, but conditions were yet to be finalised.
According to the statement, the board has approved the conclusion of a loan agreement to finance part of the purchase. This involves partial refinancing of a loan used to finance the acquisition of Telekom Sprske, based in Bosnia and Herzegovina, in 2007.
According to Reuters, owning 100% of the shares in Telekom Srbija will make it easier for Belgrade to advance long-delayed plans to find a new investor for the company.
