Serbia’s telecoms minister Rasim Ljajic has said the government has received a number of non-binding offers for its 58.1% stake in Telekom Srbija.
The deadline for non-binding offers passed on 2 August and a government committee will spend the coming…
Serbia’s telecoms minister Rasim Ljajic has said the government has received a number of non-binding offers for its 58.1% stake in Telekom Srbija.
The deadline for non-binding offers passed on 2 August and a government committee will spend the coming weeks reviewing the proposals before announcing qualified bidders on 17 August, according to Serbian news agency Tanjug.
Telekom Austria (VIE:TKA) and Deutsche Telekom (FWB: DTE) are reported to have registered their interest, and U.S. Ambassador to Serbia Michael Kirby has said several US investors were interested in buying the incumbent operator.
In 2011, the government’s €1.4bn (US$2.03bn) price tag was not met, and this time prime minister Aleksander Vucic has suggested that he wants adviser Lazard to seek an even higher bid citing Serbia’s improved investment climate.
Ljajic warned that the government would scrap the process if it did not receive a satisfactory offer, the Tanjug report said.
Lazard’s team is being led by its managing director of TMT, Vincent Le Stradic, and vice president Christophe Gehin, according to documents issued by the privatisation agency.
The state owns 58.11% of Telekom Srbija, with a further 20% held by the company as treasury stock, and the remainder by Serbian citizens and the telco’s current and former employees.
The privatisation is part of a wider initiative to sell off state assets under Serbia’s most recent budget balancing agreement with the International Monetary Fund (IMF).
