In March, the government of Serbia announced plans to sell 40% of TELEKOM SRBIJA (TELECOM SERBIA) and to invest the money in infrastructure to improve traffic flow. This way the government is releasing its majority hold on the Serbia’s most profitable state-owned company.
The state owns 80% stake through the postal agency (PTT SRBIJA), while 20% of the company is owned by Greek phone company OTE. 30% of OTE shares belongs to DEUTSCHE TELECOM as it is its subsidary company. According to the Serbian government, 40% stake should be worth around EUR 1.25 billion. The government would like a stable strategic partner able to invest and improve quality of services being eager to secure further development of the company. Also, it is planned to list 15% of the company on the Belgrade stock Exchange (www.belex.rs) with a further 5% going to current and ex employees.
TELEKOM SRBIJA (www.telekom.rs), together with its subsidiaries, earns over a billion euros of profit anually. The company owns 65% stake in TELEKOM SRPSKA (www.mtel.ba), the biggest telecommunications company in the Serb entity of Bosnia and Herzegovina, and M:TEL (www.mtel-cg.com), the mobile communications operator in Montenegro. TELEKOM SRBIJA counts with 7.48 million mobile phone users in Serbia, Montenegro and Bosnia and Herzegovina meaning 60% market share in Serbia, 37.5% in Bosnia and Herzegovina and 26.5% in Montenegro.
The tender for 40% ownership of TELEKOM SRBIJA is expected to run before the end of the year. Among possible buyers are German DEUTSCHE TELECOM, Spanish TELEFONICA and Egyptian ORASCOM. Some sources are also mentioning FRANCE TELECOM and TURK TELEKOM. The tender for the sale adviser was closed on 10 May 2010 when CITIGROUP was the sole bidder.
DEUTSCHE TELECOM is strongly present in the region including Hungary, Greece, Croatia, Montenegro and Macedonia. The German company allready owns 30% out of 20% of TELEKOM SRBIJA through its subsidiary company OTE from Greece and it is strongly interested in buying the additional stake.
Spanish TELEFONICA is allready present in more then 20 countries Worldwide. Purchase of 40% of TELEKOM SRBIJA would be a new chapter of the company expansion through the Eastern European markets where it is allready very present in Czech Republic and in Slovak Republic.
Egyptian ORASCOM TELECOM HOLDINGS.A.E. (ORASCOM TELECOM or OTH) belongs to the ORASCOM GROUP of companies. The company is operating in eleven emerging markets in the Middle East, Africa and Asia, being strongly interessted to enter into Europe.
LINKS:
TELEKOM SRBIJA: www.telekom.rs
TELEFONICA: www.telefonica.com
DEUTSCHE TELEKOM: www.telekom.com
ORASCOM TELECOM: www.otelecom.com
OTE: www.ote.gr
TICKERS:
TELEFONICA - NYSE:TEF; TEF.MC; ETR:DTE
DEUTSCHE TELEKOM - DTE.F; DTEGY.PK
ORASCOM TELECOM - ORTE:EY
OTE - NYSE:OTE; ATH:HTO
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