Regions

Serbia government possibly opens Telekom for sale

(Credit: Reuters) Company logo of Serbia's leading telecommunication network.Telekom Srbija
August 19
10:15 PM 2013
by IVC Post Staff Reporter

Serbia is not closing its doors in the possibility of selling its main telecommunications provider Telekom Srbija AD followed by the expression of interest of two main companies namely The Dogus Group Of  Turkey and Sabanci Group.

The local government of Serbia, under the leadership of Prime Minister Ivica Dacic, plans to sell or close down 179 state-owned businesses. This is to augment the budget deficiency and recuperate Balkan state from two consecutive recessions within the last three years.

Aside from the two companies which expressed their interest, the Moscow-based AFK Sistema (AFKS) JSFC also eyes the possible ownership of the said telecommunications. Emirates Telecommunications Corp. (Etisalat) based from Abu-Dhabi has shown interest as well.

Telekom Srbija AD gained RSD22.27 billion in 2011 but its net income decreased to RSD11.25 billion in 2012.

Mihajlovic disclosed that the government is also open for a strategic partnership with private sectors in managing the said telecommunications. There is no final decision yet whether Telekom Srbija AD is up for sale.

 

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