Orascom Telecom Holding is reportedly interested in the privatisation of Telekom Srbija. According to TeleGeography’s GlobalComms Database, in March Belgrade confirmed plans to auction a 40% stake in the telco in September 2010. The government also said it planned to list 15% of the company on the local bourse with a further 5% going to current and past employees. In April Serbia’s finance ministry announced a tender to select an adviser for the sale; the adviser must be an investment bank (or a consortium comprising an investment bank) which has handled the sale of a telecoms company from Europe, the Middle East or the Commonwealth of Independent States in the last three years worth at least EUR500 million. The selection of the best bid will be made based on the experience of the bidder, its working plan and price. The tender closed on 10 May 2010 at which date Citigroup was reportedly the sole bidder. The Serbian government is reported to have said that it believes its 80% stake to be worth around EUR2.5 billion, which – if correct – would mean that it is expecting to raise around EUR1.25 billion when the sale takes place.