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Serbia plans Telekom Srbija sale
20 August 2010
Serbia’s telecoms minister Jasna Matic says the government will sell 50% plus one share in Telekom Srbija
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Serbia
Telekom Srbija
OTE
Orascom
Türk Telekom
Deutsche Telekom
Serbia will sell a controlling stake in incumbent phone company Telekom Srbija to improve its finances, according to telecoms minister Jasna Matic. The government is seeking to sell 50% plus one share of the operator. Greece’s OTE — which itself is controlled by Deutsche Telekom — already owns 20%.
Serbia is looking for a buyer with interests in the telecom industry to help modernise the state-controlled enterprise. Orascom, Türk Telekom and Deutsche Telekom are among the companies interested in Telekom Srbija, according to Matic.
Citigroup Global Markets is advising on the sale, which will need regulatory approval in Bosnia and Montenegro, as Telekom Srbija also has operations there. Serbia, Bosnia and Montenegro are all parts of former Yugoslavia.
According to Serbia’s deputy finance minister Vuk Djokovic, the privatisation adviser will prepare the sale, considering that the stake will not be sold to an investment fund but to a strategic partner who will expand capacity and bring know-how. GTB