Serbia Extends Telecom Sale Deadline

Serbia has provided Telekom Austria another 15 days to improve its offer for a 51% in Serbian telecom provider, Telekom Srbija, Bloomberg reports. Telekom Austria, which is the sole bidder, placed its bid of €950 million for the stake plus an additional €450 million in investment over three years.

The Serbian Ministry of Finance has extended the deadline for a revised bid until May 3. The government rejected the bid as it was below its minimum price of €1.4 billion, adds Reuters. Serbia holds 80% stake in Telekom Srbija, with Greece’s OTE holding the remaining 20%.

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