WAZ: Legal takeover, shares to be sold

WAZ Media Group manager Peter Lange denied that the Salzburg-based Ardos owned by Serbian businessman Milan Beko was taken over illegally. Ardos owns 24.89 percent of shares of the Belgrade-based Vecernje Novosti media company. WAZ: Legal takeover, shares to be sold Lange also confirmed that WAZ was withdrawing from Serbia, and that the newly acqured shares would be sold in the process.. WAZ bought the shares two years ago, but the takeover procedure was prolonged only because there has been no permission of the Serbian Anti-Monopoly Commission, said Lange, who is in charge of the entire WAZ business with Serbia, according to a Deutsche Welle report today. He announced that WAZ would soon take over the other two companies in the ownership of Milan Beko, Trimax and Karamat, which also own part of the Vecernje Novosti shares, given that the shares were bought long ago, and eventually, WAZ will acquire the ownership over 62.4 percent of shares. Given that WAZ officially announced its withdrawal from Serbia last week, the Belgrade-based daily Politika, the Novi Sad-based daily Dnevnik and the Vecernje Novosti shares will be put up sale, he stated. According to Lange, “this is a normal process, by which the company wants to protect its rights, and a part of the announced strategy of withdrawal from Serbia”. The German media group's latest moves have caused one government minister in Serbia to call for a future ban of its operations in the country, “even if it wanted to return” to this market.

WAZ: Legal takeover, shares to be sold

Lange also confirmed that WAZ was withdrawing from Serbia, and that the newly acqured shares would be sold in the process..

WAZ bought the shares two years ago, but the takeover procedure was prolonged only because there has been no permission of the Serbian Anti-Monopoly Commission, said Lange, who is in charge of the entire WAZ business with Serbia, according to a Deutsche Welle report today.

He announced that WAZ would soon take over the other two companies in the ownership of Milan Beko, Trimax and Karamat, which also own part of the Večernje Novosti shares, given that the shares were bought long ago, and eventually, WAZ will acquire the ownership over 62.4 percent of shares.

Given that WAZ officially announced its withdrawal from Serbia last week, the Belgrade-based daily Politika, the Novi Sad-based daily Dnevnik and the Večernje Novosti shares will be put up sale, he stated.

According to Lange, “this is a normal process, by which the company wants to protect its rights, and a part of the announced strategy of withdrawal from Serbia”.

The German media group's latest moves have caused one government minister in Serbia to call for a future ban of its operations in the country, “even if it wanted to return” to this market.