The CEO of Telekom Austria has disclosed that he did not even suggest to parent América Móvil that the Vienna-based operator pursue an acquisition of Telekom Srbija.
Alejandro Plater, the CEO of Telekom Austria (VIE:TKA) has disclosed that he did not even suggest to parent América Móvil (NYSE:AMX) that the Vienna-based operator pursue an acquisition of Telekom Srbija.
The privatisation of the Serbian incumbent collapsed on 11 December as none of the six proposals the government received were deemed high enough.
Telekom Austria was the highest bidder in a previous process to privatise Telekom Srbija in 2011, but its €1.1bn (US$1.21m) offer was rejected. Plater told local newspaper Wirtschafts Blatt he did not even look at the asset this time around, despite wanting to add fixed-line to the company’s mobile-only Serbian operations.
Serbian reports suggested opposition to the sale from local unions was a significant factor in the government rejecting bids. New York-based fund Colbeck Capital was reportedly the highest bidder, offering €1.47bn (US$1.61bn), beating bids by private equity and strategics on both sides of the Atlantic.
Lazard – led by TMT managing director Vincent Le Stradic – began the sale process in late June with the government said to be asking €1.5bn (US$1.65bn) for its 58.11% stake.
Telekom Slovenije was said to be a bidder in the process, as well as financial investors Novator, Mid Europa, Apollo and Advent Capital, a person with buy-side knowledge previously told TelecomFinance.