Telekom Srbija’s minimum price EUR1.4bn for 51%; OTE confirms will sell 20%

29 Dec 2010

Serbia’s government has set a minimum price of EUR1.4 billion (USD1.8 billion) for a 51% stake in Telekom Srbija which it has put on sale. A sale arranger has valued the entire company at EUR2.43 billion. The full-service telco is 80% state-owned, with 20% held by Greece’s Hellenic Telecommunications Organisation (OTE). Deutsche Telekom, Telekom Austria, France Telecom, America Movil, Weather Investments (owner of Orascom Telecom), Vimpelcom and Turkcell have all registered to bid in a tender scheduled for late February 2011.

Meanwhile, Reuters reports that OTE has confirmed that it is prepared to sell its minority stake in Telekom Srbija, with CEO Michael Tsamaz saying: ‘Our intention is to sell as long as the price will be within the limits set by our management board.’

Serbia, Cosmote, Telekom Srbija (MTS)