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Government gives up sale of Telekom Srbija
Belgrade,
11 December 2015
Prime Minister Aleksandar Vucic said today that the company Telekom Srbija remains the property of the Republic, given that the offered price for the privatisation of the company was not satisfactory.
Vucic told a news conference that the decision of the government and of the commission for the privatisation of Telekom Srbija was unanimous, and added that the company will undergo reorganisation in order to be able to be competitive on the market.
The Prime Minister explained that this means the introduction of professional management, possibly modeled on the model that was applied in the Smederevo steelworks.
He expressed hope that Telekom will increase its performance in four years, which will lead to an increase in the market price of the company in relation to the current offer, which, he said, was slightly lower than the one the government expected.
The most serious offer was given by an investment fund from the United States of America, Vucic said, adding that he cannot give more details because of contractual constraints.
The Prime Minister explained that this means the introduction of professional management, possibly modeled on the model that was applied in the Smederevo steelworks.
He expressed hope that Telekom will increase its performance in four years, which will lead to an increase in the market price of the company in relation to the current offer, which, he said, was slightly lower than the one the government expected.
The most serious offer was given by an investment fund from the United States of America, Vucic said, adding that he cannot give more details because of contractual constraints.
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