Telenor Serbia profit at EUR 13mn

Telenor Serbia profit at EUR 13mn

Total Serbian profits from January to March amounted to EUR 83.75mn, EUR 6.2mn less than in the last quarter of 2006. Telenor also said in its business report that the number of subscribers increased by 172,000 to reach 2.6 million, while the market share remained “at a stable 41 percent”.

The company started its operations in Serbia on September 1, 2006, after buying Mobi63 mobile telephony operator for EUR 1.513bn.

Meantime, British financial magazine The Banker has awarded investment banks Citadel and Rothschild the banking deal of the year prize for their role as privatization advisers in the sale of Mobi63.

According to the magazine owned by The Financial Times, Telenor’s EUR 1.513bn acquisition was the most successful privatization in Southeastern Europe in 2006.

The award ceremony was held in Bahrain as part of an international conference on financial services in the Middle East, gathering 200 leading global experts from the investment banking sector.