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The Government of the Republic of Serbia

In the service of citizens

Telekom Srpske sale contract signed

Belgrade/Banja Luka, 19 January 2007

Directors of Telekom Srbija and Telekom Srpske Drasko Petrovic and Slavisa Krunic and director of the Republika Srpska Privatisation Directorate Vladimir Mackic signed today in Banja Luka a €646 million agreement on purchase of 65% of Telekom Srpske.

From left: Vojislav Kostunica, Drasko Petrovic, Slavisa Krunic, Republika Srpska President Milan Jelic and Milorad Dodik

Author: Tanjug

Serbian Prime Minister Vojislav Kostunica, Republika Srpska Prime Minister Milorad Dodik and members of the two governments also attended the signing of the agreement.

In a press conference held after the signing, the two prime ministers agreed that acquisition of Telekom Srpske by Telekom Srbija is a concrete example of realisation of the Agreement on special parallel relations between Serbia and Republika Srpska.

Kostunica congratulated Telekom Srbije for its leadership position in telecommunications in the region, the Republika Srpska government on a transparent tender process as well as Republika Srpska citizens on a modern and powerful telecommunications leader.

Kostunica reiterated that the signing of this contract is the greatest investment made by a Serbian company and it demonstrates the power and strength of Telekom Srbija and shows that the Serbian economy is recovering.

He said that the Agreement on special parallel relations did not remain a dead letter, but has been realised in practice, and recalled that in late 2006 Komercijalna Banka opened a branch office in Republika Srpska.

According to Kostunica, the Agreement will strengthen the relations between Serbia and Republika Srpska and citizens of these countries will be able to better hear and understand each other.

Kostunica announced the construction of a bridge near Raca adding that "there can never be too many bridges on the Drina" which will enable better links between Serbia and Republika Srpska, as well as Serbia and Bosnia-Herzegovina.

Speaking about the future status of Kosovo-Metohija, Kostunica stressed that the Serbian government will implement any solution which is in line with international law and the UN Charter, which guarantees sovereignty and territorial integrity of states.

According to Kostunica, the framework for resolving Kosovo status should be sought in the "world constitution", that is, the UN Charter, since it represents the foundation of stability and safety in the world.

The Serbian government has proposed a solution for the province's future status which implies essential autonomy, recalled Kostunica and stressed that this is a compromise solution.

Dodik said that the signing of the contract on the sale of a majority part of Telekom Srpska to Telekom Srbija represents a historical event since it means that privatisation has been completed to the benefit of all.

He said his government will be able to demonstrate management and investment abilities, and specified that the money from the privatisation of Telekom Srpska will be invested in new projects.

Dodik said he is pleased with the fact that all institutions in Republika Srpska support the sale of Telekom Srpska and added that this telecommunications company will become a leader in the market of Bosnia-Herzegovina.

The cooperation between Serbia and Republika Srpska will continue in line with the Agreement on special parallel relations through the construction of the bridge near Raca, as well as cooperation in the health, education and other sectors, concluded Dodik.