The government officials have stated that Serbia may decide not to sell a 51% stake in Telekom Srbija if bidders offer less than the minimum price of US$1.9 billion.
According to the officials, they will not sell it at any cost. If offers are below minimum price then they will say that the tender had failed.
Four firms are seen as expected bidders in the sale, for which Belgrade has set 21 March as a deadline for binding bids.
The official added that Deutsche Telekom, Telekom Austria, VimpelCom and Weather Investments would be likely bidders. France Telecom has already left, while America Movil and Turkcell are almost certain to pull out.
Turkcell and France Telecom have stated that they would not be bidding as the prices are too high.