Unions against Telekom privatization

Telekom Srbija unions have appealed to the state not to privatize the state-owned telecommunications company.

Izvor: Tanjug

Tuesday, 23.03.2010.

09:49

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Telekom Srbija unions have appealed to the state not to privatize the state-owned telecommunications company. According to them it is one of the last remaining successful companies in the country. Unions against Telekom privatization Representatives of the unions from Republika Srpska, Montenegro and Serbia have signed a cooperation agreement and formed a coordinating body in order to improve the conditions of the company and its employees. Although Serbian Prime Minister Mirko Cvetkovic said on Sunday that Telekom privatization may be carried through by selling a part of the shares while having the state keep the other part, the unions warn that the company may pass into private majority ownership even if the state sells only five percent of the company's shares. Telekom union President Miroslav Joksimovic explained that the Greek telecommunications company OTE holds 20 percent of the capital shares in the Serbian Telekom, while the citizens, current and former employees hold about 25 percent. This means that 45 percent of the shares are currently not in state ownership, and if additional 5 percent are sold the state will no longer be the major shareholder, Joksimovic said. Telekom Srbija union President Slavoljub Kandic warned that the transfer of the company to majority private ownership would mean a rise in the price of services, similar to the rise in phone subscription costs after the Norwegian Telenor became the second fixed telephony operator. Kandic added that the transfer would also lead to lay-offs.

Unions against Telekom privatization

Representatives of the unions from Republika Srpska, Montenegro and Serbia have signed a cooperation agreement and formed a coordinating body in order to improve the conditions of the company and its employees.

Although Serbian Prime Minister Mirko Cvetković said on Sunday that Telekom privatization may be carried through by selling a part of the shares while having the state keep the other part, the unions warn that the company may pass into private majority ownership even if the state sells only five percent of the company's shares.

Telekom union President Miroslav Joksimović explained that the Greek telecommunications company OTE holds 20 percent of the capital shares in the Serbian Telekom, while the citizens, current and former employees hold about 25 percent.

This means that 45 percent of the shares are currently not in state ownership, and if additional 5 percent are sold the state will no longer be the major shareholder, Joksimović said.

Telekom Srbija union President Slavoljub Kandić warned that the transfer of the company to majority private ownership would mean a rise in the price of services, similar to the rise in phone subscription costs after the Norwegian Telenor became the second fixed telephony operator.

Kandić added that the transfer would also lead to lay-offs.

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