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Government to receive recommendations on sale of Telekom Srbija by summer
Belgrade,
8 March 2015
Minister of Economy Zeljko Sertic voiced expectation today that the privatisation advisor for the sale of Telekom Srbija will give recommendations to the Serbian government by summer on the direction which the privatisation should take and on the preferred strategic partners.
Speaking as a guest at the Morning Show of TV Pink, Sertic said that French company Lazard Freres SAS made the bid for the privatisation advisor for the sale of Telekom Srbija.
He said that many companies are interested in the privatisation of Telekom, and all of them already have consulting companies working for them.
He noted that the privatisation advisor for the sale of Telekom will have the task to do an economic and legal analysis of the company's business and of general conditions on the telecommunications market, especially in Europe, and to make recommendations to the Serbian government in line with that.
It will take around twenty days to determine all the facts and examine the documentation in order to conclude a contract with the privatisation adviser.
Speaking about spending the proceeds that will be obtained from the sale of Telekom, he said that the Serbian government has an agreement in principle with the International Monetary Fund (IMF) that a half of the funds should be used to pay off debts, while the rest will be invested in large infrastructure investments.
Speaking about Zelezara Smederevo steelworks, he said that all employees will keep their jobs, and that there is a possibility that there will be new hires if full production capacity is established.
The five companies whose bids have been accepted will defend their business plans for the steelworks before the commission in Belgrade next week.
The Minister said that the government has already set clear goals for the biggest Serbian steel mill that the new management should meet and they are related to the minimum annual production of 1.5 million tons, financing and the management strategy.
The government decided to issue a public call for the professional management of Zelezara Smederevo after unsuccessful negotiations on strategic partnership with American company Esmark, Sertic recalled.
He said that many companies are interested in the privatisation of Telekom, and all of them already have consulting companies working for them.
He noted that the privatisation advisor for the sale of Telekom will have the task to do an economic and legal analysis of the company's business and of general conditions on the telecommunications market, especially in Europe, and to make recommendations to the Serbian government in line with that.
It will take around twenty days to determine all the facts and examine the documentation in order to conclude a contract with the privatisation adviser.
Speaking about spending the proceeds that will be obtained from the sale of Telekom, he said that the Serbian government has an agreement in principle with the International Monetary Fund (IMF) that a half of the funds should be used to pay off debts, while the rest will be invested in large infrastructure investments.
Speaking about Zelezara Smederevo steelworks, he said that all employees will keep their jobs, and that there is a possibility that there will be new hires if full production capacity is established.
The five companies whose bids have been accepted will defend their business plans for the steelworks before the commission in Belgrade next week.
The Minister said that the government has already set clear goals for the biggest Serbian steel mill that the new management should meet and they are related to the minimum annual production of 1.5 million tons, financing and the management strategy.
The government decided to issue a public call for the professional management of Zelezara Smederevo after unsuccessful negotiations on strategic partnership with American company Esmark, Sertic recalled.
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