Libyan state-owned telecoms holding company LAP Green Networks is considering a bid for a 40% stake in Telekom Srbija. LAP Green is wholly owned by the Libya-Africa Investment Portfolio, which was incorporated in 2006 as a Libyan foreign investment vehicle initially designed to promote the development of African countries. LAP currently has a capital fund in excess of USD5 billion.
The company’s managing director, Abdulbaset Elazzabi, recently met with Serbian prime minister Mirko Cvetkovic to discuss LAP Green’s interest in buying the stake in Telekom Srbija. ‘LAP Green believes Telekom Srbija would be a valuable addition to its existing holdings,’ Elazzabi said in a statement on the firm’s website. LAPGreen will have some work to do if it is to secure the stake however: Deutsche Telekom, Telefonica of Spain, Turk Telecom and Egypt’s Orascom are all also reported to be interested in the stake.