Greeks ready to sell Telekom shares

Greeks ready to sell Telekom shares

This would happen during the forthcoming tender to sell the Serbian state-owned telecommunications company, it has been confirmed for B92.

OTE sent a letter to the Serbian government, which said that the company was ready to sell its shares as part of a package that will be offered to interested investors.

A new Telekom owner would - according to plans - pay at least EUR 1.4bn for a 51 percent stake in the company, 31 percent of which is currently held by the government, while 20 percent belongs to OTE.

In this way, the state would earn EUR 840m, while the Greeks would get EUR 560mn.

The deadline for submitting bids in the Telekom sale is March 21.

Russia's Vimpelkom has in the meantime announced that it will likely not bid in the tender.