IMF to back sale of Telekom if price is right

IMF to back sale of Telekom if price is right

The International Monetary Fund (IMF) does not expect the Serbian government to proceed with the sale of the national telecoms operator Telekom Srbija if the price offered is not satisfactory, Serbian Finance Minister Dusan Vujovic said in Lima Monday.

We agree that the privatisation of Telekom Srbija needs to proceed, but it should not be sold at all costs - the IMF does not expect us to proceed with the sale in case the terms are not good, Vujovic told Tanjug in Lima, which hosted the autumn meetings of the IMF and the World Bank.

The minister has said that he expects binding bids for the sale to arrive by November 15.

Around 58 percent of the state-owned stake in Telekom Srbija has been put up for sale, with French-based company Lazard named as the operator's privatisation adviser in March.