Telekom to hire Morgan Stanley as advisor

The Privatization Agency has recommended Morgan Stanley to become Telekom Srbija's privatization advisor.

Izvor: Tanjug

Wednesday, 24.09.2008.

09:53

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The Privatization Agency has recommended Morgan Stanley to become Telekom Srbija's privatization advisor. The agency sent this proposal to the government, saying that the international investment bank submitted a tender bid was "the most favorable", Tanjug reported on Tuesday. Telekom to hire Morgan Stanley as advisor A consortium made up of JP Morgan Securities and Austria's Erste Bank was also in competition. Telekom's financial advisor will be involved in the primary and secondary public bids for this public enterprise's shares. The strategy of implementation of the initial public offer (IPO), prepared by the selected advisor, must be approved by the government. The state currently owns 80 percent of Telekom shares while 20 percent is owned by the Greek OTE – indirectly by Deutsche Telekom. After the IPO, Telekom Srbija will remain mostly state-owned with some of its stock distributed to Serbians eligible for to receive free shares.

Telekom to hire Morgan Stanley as advisor

A consortium made up of JP Morgan Securities and Austria's Erste Bank was also in competition. Telekom's financial advisor will be involved in the primary and secondary public bids for this public enterprise's shares.

The strategy of implementation of the initial public offer (IPO), prepared by the selected advisor, must be approved by the government.

The state currently owns 80 percent of Telekom shares while 20 percent is owned by the Greek OTE – indirectly by Deutsche Telekom.

After the IPO, Telekom Srbija will remain mostly state-owned with some of its stock distributed to Serbians eligible for to receive free shares.

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