OTE seeks to sell Serbian stake

29 Nov 2011

Beleaguered Greek telco OTE says it is in talks to sell its 20% stake in Telekom Srbija back to the country’s government, reports Reuters. OTE is believed to be keen on a sale as it seeks to raise cash to cut its debt as it battles the severe recession in Greece. The Serbian government is also understood to favour regaining 100% ownership over the telco as it would make it easier to find a new investor for the company. In May Belgrade rejected an offer of EUR1.1 billion (USD1.5 billion) from Telekom Austria to buy a 51% stake in Telekom Srbija, saying it was too low.

Serbia, Cosmote, Telekom Srbija (MTS)