Telekom Austria given 15 days to improve Telekom Srbija bid

News General Serbia 29 MRT 2011
Telekom Austria given 15 days to improve Telekom Srbija bid
The Serbian government asked Telekom Austria to reconsider its bid for 51 percent of Telekom Srbija, in order to match the tender conditions. Based on the analysis and recommendations of the privatization adviser, the government determined that the offer is incomplete because its financial part does not match the conditions of the tender. Telekom Austria offered EUR 950 million for the shares and EUR 450 million in investments, while the Serbian government is determined that the minimum price for a 51 percent stake in Telekom Serbia should be EUR 1.4 billion. The Serbian government has given Telekom Austria 15 days to complete its offer and adjust the financial bid.

Categories:

General

Companies:

A1 Telekom Austria,  Telekom Srbija

Countries:

Serbia

Tags:

Voice services, Wholesale, Government policy, M&A buyouts & divestments

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