Government to set minimal Telekom price

The government will today set the minimum opening bid for the sale of 51 percent of its shares in Telekom Srbija.

Izvor: B92

Thursday, 23.12.2010.

09:35

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The government will today set the minimum opening bid for the sale of 51 percent of its shares in Telekom Srbija. This should amount to approximately EUR 1.4bn, Serbian Minister of Economy Mladjan Dinkic announced on Wednesday, and expressed expectation that a higher bid will be offered in the course of the auction. Government to set minimal Telekom price “We have already talked about this informally, but this will now be the official government decision and all participants in the process will be notified about it,” Dinkic said in a statement for the Internet portal EurActiv Srbija. The government called a tender for the sale of the state-owned telecommunications company on October 20, and seven companies have so far purchased the tender documentation. The deadline for submitting binding bids is January 21, 2011. The companies that purchased tender documentation comprise Deutsche Telekom, France Telecom, Telekom Austria Group, America Movil, Vedder Investment Company, Turkcell and VimpelCom. According to the company's data, Telekom Srbija had around 3.2 million landline telephony users and 5.9 million users of mobile phones in 2009, which made up 60 percent of the mobile telephony market. Telekom Srbija also owns Telekom Srpske in the Serb republic (RS) in Bosnia-Herzegovina, and Montenegro's MTEL CG telecommunication company. Experts and analysts, however, voiced their criticism of the move, saying that the Privatization Agency had not been consulted about the sale, which represents a violation of the law that should be reviewed by the Constitutional Court. Others warn that by selling Telekom, its monopoly over the telecommunications infrastructure in the country will be effectively sold as well, in the process stifling competition. Another point raised against the sale is that it comes amid the economic crisis, and that it amounts to a political, not an economic decision.

Government to set minimal Telekom price

“We have already talked about this informally, but this will now be the official government decision and all participants in the process will be notified about it,” Dinkić said in a statement for the Internet portal EurActiv Srbija.

The government called a tender for the sale of the state-owned telecommunications company on October 20, and seven companies have so far purchased the tender documentation. The deadline for submitting binding bids is January 21, 2011.

The companies that purchased tender documentation comprise Deutsche Telekom, France Telecom, Telekom Austria Group, America Movil, Vedder Investment Company, Turkcell and VimpelCom.

According to the company's data, Telekom Srbija had around 3.2 million landline telephony users and 5.9 million users of mobile phones in 2009, which made up 60 percent of the mobile telephony market.

Telekom Srbija also owns Telekom Srpske in the Serb republic (RS) in Bosnia-Herzegovina, and Montenegro's MTEL CG telecommunication company.

Experts and analysts, however, voiced their criticism of the move, saying that the Privatization Agency had not been consulted about the sale, which represents a violation of the law that should be reviewed by the Constitutional Court.

Others warn that by selling Telekom, its monopoly over the telecommunications infrastructure in the country will be effectively sold as well, in the process stifling competition.

Another point raised against the sale is that it comes amid the economic crisis, and that it amounts to a political, not an economic decision.

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