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Latest Satellite News Discussion, Serbian telco sale called off at General Satellite News forum; Published: 12.01 Europe/London, May 5, 2011 The Serbian government has rejected a last-minute bid of 1.1 billion from Telekom Austria ...

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Serbian telco sale called off - 05-May-2011, 19:50

Published: 12.01 Europe/London, May 5, 2011
The Serbian government has rejected a last-minute bid of 1.1 billion from Telekom Austria for a 51% stake in the incumbent telco Telekom Srbija.

Novosti reports that under the terms of Telekom Austrias improved bid it had previously been the only company to lodge a bid, offering 950 million in cash plus 450 million in investment the Austrian company said it would pay 800 million in cash plus additional payments over the next nine years, bringing the total to 1.1 billion.

However, this still fell considerably short of the minimum asking price of 1.4 billion demanded by the Serbian state and Greeces OTE, the other shareholder in Telekom Srbija.


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