EUR 380mn for 20 percent of Telekom shares

Telekom Srbija Management Board and Shareholders' Assembly have approved the purchase of 20 percent of Telekom shares currently owned by Greek OTE company.

Izvor: Tanjug

Saturday, 17.12.2011.

13:00

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Telekom Srbija Management Board and Shareholders' Assembly have approved the purchase of 20 percent of Telekom shares currently owned by Greek OTE company. The 20 percent of the shares will be sold for EUR 380mn, Telekom Srbija, Serbia's state-run telecommunications company, released Saturday. EUR 380mn for 20 percent of Telekom shares The corporate bodies approved on Friday the important contract elements determined so far and the price of EUR 380mn for 20 percent of Telekom shares. The conditions have thus been created for Telekom to continue negotiating on the very content of the agreement, which the company management should consider individually and approve before the signing, the statement reads. An agreement was also reached to approve the signing of a contract on a loan for the financing of one part of the purchase of shares, that is partial refinancing of the last installment of the previous loan used for the purchase of Telekom Srpska in 2007. A 2012 Business Plan was adopted at yesterday's session, as well as financial and business projections for the period 2012-2016. (FoNet, file)

EUR 380mn for 20 percent of Telekom shares

The corporate bodies approved on Friday the important contract elements determined so far and the price of EUR 380mn for 20 percent of Telekom shares.

The conditions have thus been created for Telekom to continue negotiating on the very content of the agreement, which the company management should consider individually and approve before the signing, the statement reads.

An agreement was also reached to approve the signing of a contract on a loan for the financing of one part of the purchase of shares, that is partial refinancing of the last installment of the previous loan used for the purchase of Telekom Srpska in 2007.

A 2012 Business Plan was adopted at yesterday's session, as well as financial and business projections for the period 2012-2016.

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