IMF to review plans for Telekom sell off

25 Feb 2010

Bloomberg reports that the International Monetary Fund (IMF) will review business plans for Serbia’s ten largest public companies that may be sold, including Telekom Srbije. Bogdan Lissovolik, the IMF’s top official in Serbia, said it will make a recommendation on whether to sell the companies. ‘The market is not strong for privatisations, but case-by-case studies may need to be done for the times when conditions improve,’ Lissovolik said in an interview.

Serbia got a EUR3 billion (USD4.1 billion) IMF bailout and received USD1.6 billion after agreeing to overhaul pensions, health care and public administration while keeping retirement pay and wages frozen in 2010. The government has missed deadlines for cutting state jobs and pledged to start them in April.

Serbia, Telekom Srbija (MTS)