Telekom "won't go for under EUR 1.4bn"

The government will not sell Telekom Srbija for less than EUR 1.4bn, said the chairman of a working group set up to sell the state-owned company.

Izvor: B92

Tuesday, 22.03.2011.

09:51

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The government will not sell Telekom Srbija for less than EUR 1.4bn, said the chairman of a working group set up to sell the state-owned company. Although the bid placed by Telekom Austria is lower than that, that does not mean that we cannot urge the Austrians to raise it, Vuk Djokovic stated on Monday evening. Telekom "won't go for under EUR 1.4bn" Telekom Austria was the sole bidder in the international tender for the sale of a 51 percent stake in Telekom Srbija offering EUR 950mn for assets and EUR 450mn for investments. Djokovic told B92 that the government, the working group and a privatization advisor will consider the bid in the next five days, and decide what is next to be done. “By submitting the bid, Telekom Austria has showed interest, but the offer has to be in line with our requirements that is amount to EUR 1.4bn,” Djokovic underlined. He stressed that it is not only the Serbian government, but also Greece's OTE, Telekom's minority owner, that is involved in the Telekom sale, adding that OTE will not agree to the terms which it finds inappropriate. Djokovic noted that the budget has been prepared without the funds that may be earned from Telekom sale, adding that if the sale takes place, there will be more funds for additional investments. Commenting the claims that appeared in Austrian media that Telekom Austria placed the bid in order to prevent the tender from failure, since in that case the government could have entered negotiations with Deutsche Telekom without a tender and sold the company to the Germans, Djokovic refuted such speculations. “I would not agree with that since the government was clear that it wants to sell its part of Telekom shares and that the process will be realized together with OTE,” Djokovic explained.

Telekom "won't go for under EUR 1.4bn"

Telekom Austria was the sole bidder in the international tender for the sale of a 51 percent stake in Telekom Srbija offering EUR 950mn for assets and EUR 450mn for investments.

Đoković told B92 that the government, the working group and a privatization advisor will consider the bid in the next five days, and decide what is next to be done.

“By submitting the bid, Telekom Austria has showed interest, but the offer has to be in line with our requirements that is amount to EUR 1.4bn,” Đoković underlined.

He stressed that it is not only the Serbian government, but also Greece's OTE, Telekom's minority owner, that is involved in the Telekom sale, adding that OTE will not agree to the terms which it finds inappropriate.

Đoković noted that the budget has been prepared without the funds that may be earned from Telekom sale, adding that if the sale takes place, there will be more funds for additional investments.

Commenting the claims that appeared in Austrian media that Telekom Austria placed the bid in order to prevent the tender from failure, since in that case the government could have entered negotiations with Deutsche Telekom without a tender and sold the company to the Germans, Đoković refuted such speculations.

“I would not agree with that since the government was clear that it wants to sell its part of Telekom shares and that the process will be realized together with OTE,” Đoković explained.

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