Matav makes Montenegro bid

23 Dec 2004

The Hungarian telco Matav has revealed that it has submitted a bid to acquire a 51% stake in Serbia and Montenegro operator Telecom Montenegro. Although Matav has not disclosed the size of its offer, a report from Interfax in Budapest says local analysts estimate the value of the stake at between EUR100 million and EUR120 million. Yesterday was the deadline for bids and Montenegro’s government is due to select a winner by the end of next month, with companies such as Telekom Austria, OTE, Telekom Serbia, Western Wireless and Ceske Radiokommunikace also reported to be interested in the stake. Telecom Montenegro, which trades locally under the name Telekom CG, currently has around 190,000 fixed line subscribers and 70,000 internet customers, while its wholly-owned mobile subsidiary Monet has around 200,000 subscribers.

Serbia, Magyar Telekom