Ministry: We are not negotiating with Telekom Austria

The Serbian Finance Ministry refuted on Friday the reports of some media that there were negotiations underway with Telekom Austria on improving their bid. The final decision on the validity of the bid by Telekom Austria will be issued on Monday, March 28, by the working group in charge of the sale of Telekom Srbija, which is led by at Finance Ministry State Secretary Vuk Djokovic. Ministry: We are not negotiating with Telekom Austria The minimum price demanded by the Serbian government for the 51 percent stake in Telekom was EUR 1.4bn and Telekom Austria was the sole bidder on Monday, March 22, offering EUR 950mn for the company's assets and EUR 450mn for investments over the next three years. Serbian Prime Minister Mirko Cvetkovic said Friday that there were no negotiations underway with Telekom Austria on any deal regarding the sale of Telekom, and pointed out that by Monday, March 28, the Finance Ministry's working group would come out with a proposal about the future of the tender. The deadline for submitting binding offers in the tender to sell 51 percent stake in Telekom, for which the government set a minimum price of EUR 1.4bn, expired on March 21, and the tender was announced on October 20. Potential buyers were previously notified that the Serbian government would sell a 31 percent stake along with a 20 percent stake in the company owned by Greece's OTE, the Finance Ministry told Tanjug. The tender documents for buying part of the stake of Telekom has been purchased by Deutsche Telekom, Telekom Austria, America Movil, Weather Investments, Turkcell, Vimpelcom and France Telecom, which withdrew from the tender in the meanwhile.

Ministry: We are not negotiating with Telekom Austria

The minimum price demanded by the Serbian government for the 51 percent stake in Telekom was EUR 1.4bn and Telekom Austria was the sole bidder on Monday, March 22, offering EUR 950mn for the company's assets and EUR 450mn for investments over the next three years.

Serbian Prime Minister Mirko Cvetković said Friday that there were no negotiations underway with Telekom Austria on any deal regarding the sale of Telekom, and pointed out that by Monday, March 28, the Finance Ministry's working group would come out with a proposal about the future of the tender.

The deadline for submitting binding offers in the tender to sell 51 percent stake in Telekom, for which the government set a minimum price of EUR 1.4bn, expired on March 21, and the tender was announced on October 20.

Potential buyers were previously notified that the Serbian government would sell a 31 percent stake along with a 20 percent stake in the company owned by Greece's OTE, the Finance Ministry told Tanjug.

The tender documents for buying part of the stake of Telekom has been purchased by Deutsche Telekom, Telekom Austria, America Movil, Weather Investments, Turkcell, Vimpelcom and France Telecom, which withdrew from the tender in the meanwhile.