Govt. tells Austrians to increase Telekom bid
The Serbian government today asked Telekom Austria to increase the bid it offered in order to buy a 51 percent stake in Telekom Srbija.
Tuesday, 29.03.2011.
17:00
The Serbian government today asked Telekom Austria to increase the bid it offered in order to buy a 51 percent stake in Telekom Srbija. The Austrian company was the sole bidder in a tender that closed last week, offering EUR 900mn for shares and EUR 450mn for investments. Govt. tells Austrians to increase Telekom bid The government said that the minimal price for the sale of the state-owned telecommunications company would be EUR 1.4bn, the Ministry of Finance noted in a statement in Belgrade on Tuesday. A working group set up to organize the tender analyzed the offer and took into account recommendations given by advisors, and found that the Telekom Austria offer was "incomplete", as the financial part of the bid "did not meet the conditions set out by the tender", said the statement. For this reason the government decided to ask Telekom Austria to submit complete documentation and to adjust the financial part to the conditions of the tender, and gave the company two weeks to do so, said the ministry.
Govt. tells Austrians to increase Telekom bid
The government said that the minimal price for the sale of the state-owned telecommunications company would be EUR 1.4bn, the Ministry of Finance noted in a statement in Belgrade on Tuesday.A working group set up to organize the tender analyzed the offer and took into account recommendations given by advisors, and found that the Telekom Austria offer was "incomplete", as the financial part of the bid "did not meet the conditions set out by the tender", said the statement.
For this reason the government decided to ask Telekom Austria to submit complete documentation and to adjust the financial part to the conditions of the tender, and gave the company two weeks to do so, said the ministry.
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