The Greek incumbent OTE is in talks with Telekom Srbija with the aim of selling its 20% stake in the company to the Serbian government.
The news was announced by OTE in a statement on the Athens Stock Exchange website. It said that as negotiations are…
The Greek incumbent OTE is in talks with Telekom Srbija with the aim of selling its 20% stake in the company to the Serbian government.
The news was announced by OTE in a statement on the Athens Stock Exchange website. It said that as negotiations are ongoing, it could not comment on the outcome or the timeline.
Deutsche Telekom holds a 40% stake in OTE. A Deutsche Telekom spokeswoman said that she would make no further comment.
Telekom Srbija confirmed that it is in talks with OTE, but could not comment on any other detail on the matter as the negotiation is ongoing.
Telekom Srbija was privatised in 1997, with the Dutch unit of Telecom Italia acquiring a 49% stake and OTE acquiring 20% of the shares.
In 2003, the public enterprise PTT Traffic Srbija bought back the shares owned by Telecom Italia and brought its stake in OTE up to 80%. In 2010, the Serbian government took over this 80% stake from PTT Srbija.
The Serbian state also holds a golden share in OTE, which means that certain decisions cannot be taken without the consent of the state’s representative.
Earlier in November, OTE posted a net profit of €104.4m for the three months up to the end of September. This was compared to a net profit of €126.3m for the same period last year.
