Govt.: Telekom reports "absolutely incorrect"

A working group the government set up to monitor the privatization of Telekom Srbija has denied that a deal had been reached to sell 30 percent of that company.

Izvor: B92

Monday, 02.05.2011.

15:19

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A working group the government set up to monitor the privatization of Telekom Srbija has denied that a deal had been reached to sell 30 percent of that company. A government statement said on Monday that speculation that Telekom Austria would buy a 30 percent stake for EUR 840mn was "absolutely incorrect". Govt.: Telekom reports "absolutely incorrect" The statement added that the government and its working group "kept the public informed in a timely manner about each step in the process of the sale". It was also said that the minimal price for a 51 percent stake in Serbia's state-owned telecommunications company was EUR 1.4bn. The government is selling 31 percent, while Greek OTE will sell the 20 percent it owns in the company. The sole bidder in the tender was Telekom Austria, which offered EUR 950mn in cash and EUR 450mn in investments, that would be implemented over the next three years. The government then asked the Austrians to improve their offer, and extended the deadline for this twice. The government statement today said that the deadline was extended to Telekom Austria "after they requested it", and that it expires on May 4. The Serbian government will then consider the offer and inform the citizens about its final decision regarding the sale of a part of Telekom Srbija shares, said the statement.

Govt.: Telekom reports "absolutely incorrect"

The statement added that the government and its working group "kept the public informed in a timely manner about each step in the process of the sale".

It was also said that the minimal price for a 51 percent stake in Serbia's state-owned telecommunications company was EUR 1.4bn. The government is selling 31 percent, while Greek OTE will sell the 20 percent it owns in the company.

The sole bidder in the tender was Telekom Austria, which offered EUR 950mn in cash and EUR 450mn in investments, that would be implemented over the next three years. The government then asked the Austrians to improve their offer, and extended the deadline for this twice.

The government statement today said that the deadline was extended to Telekom Austria "after they requested it", and that it expires on May 4.

The Serbian government will then consider the offer and inform the citizens about its final decision regarding the sale of a part of Telekom Srbija shares, said the statement.

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