France Telecom has decided not to participate in the privatisation of 51% of Telekom Srbija because it considers the price as too high.
The authorities have set at E1.4bn the minimum price for the 51% stake.
An FT spokesman said: “We looked at the…
France Telecom has decided not to participate in the privatisation of 51% of Telekom Srbija because it considers the price as too high.
The authorities have set at E1.4bn the minimum price for the 51% stake.
An FT spokesman said: “We looked at the process but we decided to drop it a few weeks ago.”
Bids are due by March 21. Deutsche Telekom, Telekom Austria, America Movil, Wind Telekom (formerly Weather Investments) and Turkcell have also shown an interest in the process.
Deutsche Telekom is advised by Goldman Sachs, while Telekom Austria is advised by Bank of America and Raiffeisen. America Movil is said to have appointed a legal firm and an accountant for the transaction.
If the authorities receive several offers, an auction will take place in front of television cameras.
Serbia owns 80% of the telecoms incumbent, while Deutsche Telekom-owned OTE controls the rest.