PM talks Telekom at conference

PM Mirko Cvetkovic said today that the basic priorities of the Serbian government in 2010 will be increase of employment and citizens' standard of living. He announced at the round table "New guidelines for economic growth", held in Belgrade on Wednesday, a number of stimulation measures for prevention of the unemployment growth and increase of economic activities. PM talks Telekom at conference Cvetkovic said that he will not wait for strategic investors to knock on Serbia's door, adding that the government will take an active part to find them in Europe and the world. He pointed out that funds will be allocated for realization of companies' export and strengthening of institutional capacities for capturing of new markets. He announced fiscal stimuli which will encourage growth of domestic demand and investments in the infrastructure. Cvetkovic particularly stressed the investments in the energy sector, adding that out of EUR 1.6 billion envisaged for the purpose, EUR 700 million will be allocated only for EPS, the largest energy company in Serbia, and public forest management enterprise Srbijasume, that amounts to five percent of the GDP. According to him, simultaneously with the economic policy, a plan of citizens' social security will be implemented along with adoption of laws on social protection and better identification of the vulnerable population. Cvekovic also told the gathering that when the government discussed the sale of national telecommunications service provider Telekom Srbija it considered what share would attract more than one bidder and decided on 40 percent. "We wanted to see what percentage would be interesting for everyone and allow the state to keep a significant share and a major role in the decision-making process," Cvetkovic said. He assessed that whoever buys 40 percent of Telekom shares will become the major owner, because the company shares which will be distributed to Serbian citizens will be available for further trading, so the buyer of the 40 percent will be able to acquire additional shares and become the majority shareholder. Cvetkovic said that a sales model similar to the one used in the sale of mobile operator Mobtel is being prepared for Telekom, and assessed that a 40 percent share will be attractive to any interested party. He noted that the money from the sale of Telekom will go into a special fund, so that it could not be used for current spending instead of investments. Cvetkovic addresses the conference today (Tanjug)

PM talks Telekom at conference

Cvetković said that he will not wait for strategic investors to knock on Serbia's door, adding that the government will take an active part to find them in Europe and the world.

He pointed out that funds will be allocated for realization of companies' export and strengthening of institutional capacities for capturing of new markets.

He announced fiscal stimuli which will encourage growth of domestic demand and investments in the infrastructure.

Cvetković particularly stressed the investments in the energy sector, adding that out of EUR 1.6 billion envisaged for the purpose, EUR 700 million will be allocated only for EPS, the largest energy company in Serbia, and public forest management enterprise Srbijašume, that amounts to five percent of the GDP.

According to him, simultaneously with the economic policy, a plan of citizens' social security will be implemented along with adoption of laws on social protection and better identification of the vulnerable population.

Cveković also told the gathering that when the government discussed the sale of national telecommunications service provider Telekom Srbija it considered what share would attract more than one bidder and decided on 40 percent.

"We wanted to see what percentage would be interesting for everyone and allow the state to keep a significant share and a major role in the decision-making process," Cvetković said.

He assessed that whoever buys 40 percent of Telekom shares will become the major owner, because the company shares which will be distributed to Serbian citizens will be available for further trading, so the buyer of the 40 percent will be able to acquire additional shares and become the majority shareholder.

Cvetković said that a sales model similar to the one used in the sale of mobile operator Mobtel is being prepared for Telekom, and assessed that a 40 percent share will be attractive to any interested party.

He noted that the money from the sale of Telekom will go into a special fund, so that it could not be used for current spending instead of investments.