Govt. again extends deadline in Telekom sale

Telekom Austria has announced that the Serbian government gave them a new deadline - this time until May 3 - to adjust their offer for Telekom Srbija. The Austrians were the sole bidder in the tender to sell Serbia's state-owned telecommunications company, and offered EUR 950mn for a 51 percent stake, and EUR 400mn in investments. Govt. again extends deadline in Telekom sale The government said it would not sell for under EUR 1.4bn and gave them a deadline that expired today to improve the offer. Now reports said that the Serbian Ministry of Finance informed the Austrian side that the deadline had been extended "due to the ongoing discussions and the need to have additional information submitted". The deadline was extended despite a previous statement made by Serbian PM Mirko Cvetkovic that this would not happen. In the reshuffled government, Cvetkovic also heads the Ministry of Finance. "There will be no deadline extension, the deadline that was extended now was not a deadline for negotiations but for an improved offer, after that there a deadline can be set for negotiations," the prime minister was quoted as saying. "If they do improve it, but it still remains under EUR 1.4bn, the government will start new negotiations with the Austrian company to try and get it to raise its bid," Cvetkovic said, according to Tanjug news agency. Meanwhile, Belgrade's Vecernje Novosti daily writes that the negotiations with the Austrians "are currently not headed in the direction of a final agreement", because Telekom Austria thus far raised its offer only by an additional EUR 100mn.

Govt. again extends deadline in Telekom sale

The government said it would not sell for under EUR 1.4bn and gave them a deadline that expired today to improve the offer.

Now reports said that the Serbian Ministry of Finance informed the Austrian side that the deadline had been extended "due to the ongoing discussions and the need to have additional information submitted".

The deadline was extended despite a previous statement made by Serbian PM Mirko Cvetković that this would not happen. In the reshuffled government, Cvetković also heads the Ministry of Finance.

"There will be no deadline extension, the deadline that was extended now was not a deadline for negotiations but for an improved offer, after that there a deadline can be set for negotiations," the prime minister was quoted as saying.

"If they do improve it, but it still remains under EUR 1.4bn, the government will start new negotiations with the Austrian company to try and get it to raise its bid," Cvetković said, according to Tanjug news agency.

Meanwhile, Belgrade's Večernje Novosti daily writes that the negotiations with the Austrians "are currently not headed in the direction of a final agreement", because Telekom Austria thus far raised its offer only by an additional EUR 100mn.