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General

Telekom Srbija, OTE reach agreement on stake sale

Friday 30 December 2011 | 13:44 CET | News
Telekom Srbija and Greece's OTE signed the agreement for Telekom Srbija to purchase OTE's 20 percent stake in the Serbian operator for EUR 380 million. A preliminary agreement was announced earlier in December. The transaction should be completed by the end of the first quarter of 2012. Based on a planned distribution of 50 percent of Telekom Srbija's profit for 2011 to shareholders, the Greek company should receive EUR 17 million, while the Serbian government will get EUR 68 million in dividends for the fiscal year 2011. After the signing ceremony, the managing director of Telekom Srbija,

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Categories: General
Companies: OTE / Telekom Srbija
Countries: Serbia
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