Telekom Austria (TELA.VI) was the only bidder for a 51 percent stake in Serbia’s state-owned Telekom Srbije, after other companies pulled out over a high minimum price, a Finance Ministry official said on Monday. “The working group now has five working days to verify validity of the offer,” said Finance Ministry secretary Vuk Djokovic. “We will analyse the offer and will notify the public.”
In December, the government set 1.4 billion euros ($1.9 billion) as the minimum price for the stake.
The Serbian government owns 80 percent of Telekom Srbija, with Greece’s OTE (OTEr.AT) holding the remaining 20 percent.
Under the terms of the tender offer, OTE will sell its entire stake in the company, while Serbia will sell 31 percent.