Matav highest bidder for Telekom Montenegro

6 Jan 2005

Hungarian PTO Matav has offered EUR114 million for a 51.12% stake in Telekom, and promised to invest EUR67.28 million in the company if its bid is accepted. Matav’s bid beat Telekom Slovenia’s offer of EUR93 million, Serbia’s Telekom (EUR88 million) and Mobilkom of Austria (EUR87 million). Telekom operates 191,000 landlines and has 225,000 wireless subscribers.