By Chris Dziadul
Published: October 22, 2010 09.43 Europe/London
The Serbian government has officially launched a tender for the sale of a 51% stake in the country’s incumbent telco, Telekom Srbija.
However, according to Novosti, the state may dispose of only 31% of the company rather than 51% if Greece’s OTE agrees to sell its 20% stake. Should it chose to do so, then it would earn around €750 million rather than a previously expected €1.4 billion.
Sources have put the total value of Telekom Srbija at €2.47 billion.
Six parties have so far expressed an interest in becoming majority shareholders in the telco, and the closing date for official bids is November 26.
Telekom Srbija is currently 80% owned by the state, with Greece’s OTE holding the remaining 20%. Earlier this month it was announced that it is the most profitable company in Serbia.
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