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Telekom Srbija’s debt and controversial deal with EPS

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“Telekom Srbija” has accrued significant debt to Elektroprivreda Srbije, amounting to millions of euros, yet it has recently secured a contract with the state-owned power company. As reported by, “Telekom” has taken over the responsibility of printing electricity bills since March, a task previously handled by EPS. The outstanding debt owed by “Telekom Srbija” to Elektroprivreda Srbije exceeded 11 million euros as of November, marking a substantial increase compared to the 2.7 million euros owed in January 2023. This sizable debt suggests a prolonged period of non-payment by “Telekom.”

Despite its significant arrears, “Telekom” was awarded the contract to print electricity bills, a move that has surprised many within EPS. Previously, this task was performed internally by EPS employees. The decision to award such a contract to a major debtor like “Telekom” has raised eyebrows, especially given the company’s substantial outstanding debt to the state-owned power utility.

Questions have been raised regarding the transparency of this arrangement, as there is no public record of any tender announcement or contract award on the Public Procurement Portal. Attempts to obtain clarification from EPS regarding the details of this contract have thus far been unsuccessful.

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Concerns over potential state aid provided to “Telekom” have also been raised, prompting an investigation by the State Aid Control Commission. The significant debt owed by “Telekom” to EPS may constitute an unfair economic advantage, potentially violating regulations on state aid. The total outstanding debt, estimated at 1.34 billion dinars (approximately 11.5 million euros), has sparked controversy and led to calls for greater transparency regarding the management of such debts.

Furthermore, the decision by EPS not to publish a list of its largest debtors in December has raised suspicions of deliberate concealment. Previously, such information was regularly disclosed on the company’s official website. However, following a request for an updated list of debtors from, EPS declined to provide the information, citing confidentiality concerns.

The lack of transparency surrounding “Telekom’s” debt and the recent contract awarded to the company have raised questions about the fairness and integrity of the procurement process within EPS. As investigations continue, there is growing scrutiny over the management of debts owed to state-owned enterprises and the potential implications for competition within the market.

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