Seven companies have applied to take part in the tender for the sale of a 51% stake in Telekom Srbija.
Deutsche Telekom, France Telecom, Telekom Austria, America Movil, Weather Investments, Turkcell and VimpelCom are the seven potential bidders.
The…
Seven companies have applied to take part in the tender for the sale of a 51% stake in Telekom Srbija.
Deutsche Telekom, France Telecom, Telekom Austria, America Movil, Weather Investments, Turkcell and VimpelCom are the seven potential bidders.
The German incumbent is rumoured to be advised by Goldman Sachs, while Telekom Austria is expected to award the mandate to Bank of America Merrill Lynch, with whom it has previously worked.
All seven companies have been qualified to participate in the tender process, which means that they will have to submit a guarantee of payment in order to view the documentation.
Binding bids are due by February 21 2011. If the authorities receive several offers, an auction will take place at the end of February in front of television cameras.
Serbia owns 80% of the telecoms incumbent, while Deutsche Telekom-owned OTE controls the rest.
Elpida Trizi, PR officer at OTE, said: “We are waiting for the Serbian Government to announce a minimum price. If it is within the range we consider satisfactory, the management will recommend to the Board to sell.”
Citigroup is advising the government on the process.
The transaction is expected to close by the end of H1.
