WAZ "sought help from businessmen"

German WAZ media group owner Bodo Hombach has reportedly sought assistance from two Serbian businessmen in his bid to take over the Večernje Novosti company.

Izvor: B92

Thursday, 01.07.2010.

15:43

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German WAZ media group owner Bodo Hombach has reportedly sought assistance from two Serbian businessmen in his bid to take over the Vecernje Novosti company. Belgrade's Vreme weekly writes that Hombach turned to Milan Beko and Delta Holding owner Miroslav Miskovic in order to achieve this. WAZ "sought help from businessmen" According to the article, Beko was seen as someone who "buys cheap, turns companies around and sells them for a lot of money", while Miskovic was identified as a person with a good distributive network. The weekly also published some details of a contract signed in 2008 by WAZ and Beko, according to which all managerial jobs were to be transferred to Beko's company, while Vecernje Novosti were to be sold at a later date. But, writes Vreme, the parties to this deal "fell out at one point", and were both left without the profit they counted on. Last month, Beko cried foul when WAZ took over one of his companies based in Austria, and acquired just under 25 percent of Novosti's shares in the process. Previously, WAZ announced it was pulling out of Serbia and that was planning to sell off its stakes in dailies Politika and Dnevnik. This prompted Economy Minister Mladjan Dinkic to say that the German media group should be "banned from returning to the Serbian market".

WAZ "sought help from businessmen"

According to the article, Beko was seen as someone who "buys cheap, turns companies around and sells them for a lot of money", while Mišković was identified as a person with a good distributive network.

The weekly also published some details of a contract signed in 2008 by WAZ and Beko, according to which all managerial jobs were to be transferred to Beko's company, while Večernje Novosti were to be sold at a later date.

But, writes Vreme, the parties to this deal "fell out at one point", and were both left without the profit they counted on.

Last month, Beko cried foul when WAZ took over one of his companies based in Austria, and acquired just under 25 percent of Novosti's shares in the process.

Previously, WAZ announced it was pulling out of Serbia and that was planning to sell off its stakes in dailies Politika and Dnevnik. This prompted Economy Minister Mlađan Dinkić to say that the German media group should be "banned from returning to the Serbian market".

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