Q:
A:
Telekom Austria given chance to amend bid
Belgrade,
29 March 2011
The working group for the sale of 51% of Telekom Srbija stated that Telekom Austria’s offer is incomplete.
In line with the analysis, the Serbian government asked Telekom Austria to supplement the documentation and to adjust the financial part of the offer as required by the tender.
The Serbian government set the minimum price for a 51% stake in Telekom Serbia at €1.4 billion.
Telekom Austria submitted the sole bid of €1.4 billion, of which €950 million for Telekom Srbija’s shares and €450 million for investments, which does not comply with financial conditions.
The Austrian company was left 15 days to complete the documentation and adapt to the conditions of the tender offer.
The Serbian government set the minimum price for a 51% stake in Telekom Serbia at €1.4 billion.
Telekom Austria submitted the sole bid of €1.4 billion, of which €950 million for Telekom Srbija’s shares and €450 million for investments, which does not comply with financial conditions.
The Austrian company was left 15 days to complete the documentation and adapt to the conditions of the tender offer.
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