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Serbian govt. accepted Telekom Austria’s proposal for deadline extension

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A working group of the Serbian government, tasked with the sale of 51% of shares of Telekom Srbija, decided to accept the proposal of Telekom Austria for an extension of the deadline in order to improve their offer for the purchase of Telekom Serbia’s majority share.

The Ministry of Finance says in a statement that the Austrian company was granted an additional 15 days to submit additional documentation and adjust the financial part of the offer to meet the requirements of the tender. This means that the documentation will be accepted by 3 May 2011.

The government set €1.4 billion as the minimum price for 51% of shares of Telekom Srbija.

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Telekom Austria was the only company to submit an offer, which comprised €950 million for the shares and €450 million for investment, the statement recalls.


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