Serbia plans US$2.25 billion telecom stake sale
Serbia is planning to sell half of its stake in Telekom Srbija to other European phone companies. The government is seeking as a minimum US$2.25 billion from the sale. Serbia has applied to become a member of the European Union, but needs to reduce state debt and to attract foreign investment
Telekom Srbija is 20% owned by Greece’s OTE, which itself is 30% owned by Deutsche Telekom. The sale will comprise of 50% stake and one share of the equity. It would be the largest Serbian government asset sale until now.