Govt. rejects new offer, Telekom sale falls through
The Serbian government adopted on Thursday the decision not to accept Telekom Austria's improved bid of EUR 1.1bn for a 51 percent stake in Telekom Srbija.
Thursday, 05.05.2011.
09:21
The Serbian government adopted on Thursday the decision not to accept Telekom Austria's improved bid of EUR 1.1bn for a 51 percent stake in Telekom Srbija. This was announced by head of the Serbian government media relations office Milivoje Mihajlovic in Belgrade on Thrusday, after the government's session. Govt. rejects new offer, Telekom sale falls through The Austrian company on Wednesday announced that it's improved offer - which came after two extended deadlines - was now EUR 1.1bn for a 51 percent stake in Serbia's state-owned telecommunications company. The government has maintained that it would not accept less than EUR 1.4bn for the package of shares offered for sale. Telekom Austria was the sole bidder in the tender. After a meeting in Belgrade on Wednesday, a working group set up to monitor the process announced that it had recommended to the government not to sell the company to the Austrians, as their offer did not meet the financial conditions of the tender. President Boris Tadic also weighed in on the issue yesterday, to say that he was "convinced" the government would not sell its shares for under EUR 1.4bn. (Beta)
Govt. rejects new offer, Telekom sale falls through
The Austrian company on Wednesday announced that it's improved offer - which came after two extended deadlines - was now EUR 1.1bn for a 51 percent stake in Serbia's state-owned telecommunications company.The government has maintained that it would not accept less than EUR 1.4bn for the package of shares offered for sale.
Telekom Austria was the sole bidder in the tender.
After a meeting in Belgrade on Wednesday, a working group set up to monitor the process announced that it had recommended to the government not to sell the company to the Austrians, as their offer did not meet the financial conditions of the tender.
President Boris Tadić also weighed in on the issue yesterday, to say that he was "convinced" the government would not sell its shares for under EUR 1.4bn.
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