Orascom interested in Telekom Srbija privatization

www.WirelessFederation.com/news: Orascom Telecom Holding has expressed its interest in the privatization of Telekom Srbija. Belgrade confirmed the plan in March to auction a 40% stake in the telco in September 2010.
Government plan to list 15% of the company on the local bourse with a further 5% going to current and past employees has also been revealed.

A tender to select an adviser for the sale had been announced by Serbia’s finance ministry in April. As a criteria it opined that the adviser must be an investment bank (or a consortium comprising an investment bank) which has handled the sale of a telecoms company from Europe, the Middle East or the Commonwealth of Independent States in the last three years worth at least EUR500 million.

In the tender that closed on the May 10, 2010 Citigroup was reportedly the sole bidder. According to the Serbian government, it believes its 80% stake to be worth around EUR2.5 billion, which if correct would mean that it is expecting to raise around EUR1.25 billion when the sale takes place.