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Telekom Srbija Gets €950M Austrian Bid

Telekom Austria has offered between €800 million and €950 million for a 51% stake in telecom operator, Telekom Srbija.

Telekom Austria has offered between €800 million and €950 million for a 51% stake in telecom operator, Telekom Srbija, The Wall Street Journal reports. The Serbian government, which controls Telekom Srbija, had expected to fetch €1.4 billion from the sale.

The proposal is subject to merger clearance and negotiations with the government about certain value-creating conditions. France Telecom withdrew from the bidding process as the price tag was too big, adds Reuters.

Click here for the story from The Wall Street Journal.

Click here for additional coverage from Reuters.

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