The Management Board and the Shareholders’ Assembly of Telekom Srbija, Serbia’s national telecommunication company, have approved the purchase of 20 percent of Telekom shares currently owned by the Greek telecommunications provider OTE, at the price of EUR 380 million, Telekom Srbija released Saturday.
The corporate bodies approved on Friday the important contract elements determined so far, and the price of EUR 380 million for 20 percent of Telekom shares. The conditions have thus been created for Telekom to continue negotiating on the very content of the agreement, which the company management should consider individually and approve before the signing, the statement reads.
An agreement was also reached to approve the signing of a contract on a loan for the financing of one part of the purchase of shares, that is partial refinancing of the last installment of the previous loan used for the purchase of Telekom Srpska in 2007. A 2012 Business Plan was adopted at yesterday’s session, as well as financial and business projections for the period 2012-2016.
