Today, the company Elektromreza Srbije (EMS) bought about five percent of the shares of the Montenegrin electricity transmission system for about seven million euros, Podgorica’s Vijesti reported, while EMS itself did not want to confirm the information.
The shares were bought from small shareholders at an average price of about 0.95 euros, with a growth of about nine percent compared to the previous price.
With this transaction, EMS, which is a state-owned company by Serbia, will have a total of about 15 percent of shares, because it bought ten percent of CGES shares for 13.8 million euros five years ago.
The majority owner of CGES is the Government of Montenegro with 55% of shares, the Italian Terna has 22%, now EMS 15%, and the rest are small shareholders.
EMS did not want Vijesti to comment on today’s transaction until it is completed, that is, to settle the shares in two days, Danas reports.
