The Ministry of Finance stated that the deadline for submitting bids for the purchase of 51% of shares of Telekom Srbija has been extended to 21 March, adding that the decision was made at the suggestion of the strategic advisor, in order to enable bidders enough time to compose bids.
The statement adds that the tender documentation was so far purchased by Deutsche Telekom, France Telekom, Telekom Austria, America Movil and Weather Investments, while Turkcell will most likely do so soon.
If there are several offers, a tender auction will be organised at the end of February in front of television cameras and the buyer will be the company that offers the highest price.
In case there is only one offer, direct talks with the sole bidder will ensue.
The sale will be concluded by the end of summer because it will take at least four to five months for the buyer to procure the necessary documentation and licences, as well as to deposit the money.
The government decided that the initial price for the sale of 51% of shares of Telekom Srbija is €1.4 billion, the statement adds.