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.
Telekom Austria, Deutsche Telekom and France Telecom are likely to bid for the Serbian state phone company. The sale possibly will be completed by the first quarter of 2011.