Telekom Srbija gives official offer for acquisition of Dunav banka

On Wednesday, December 3, 2014, Telekom Srbija announced it sent an offer to majority stakeholders, Dunav osiguranje and Dunav RE, for the acquisition of Dunav banka.

The Supervisory Board of Telekom Srbija adopted on Wednesday the proposal of the Executive Board with respect to the majority stake acquisition at Dunav banka through capital increase. .

In case current owners of Dunav banka accept the offer, after the procedure planned in line with the valid regulations (obtaining the approval of NBS and authorities for competition protecton) Telekom Srbija would acquire majority stake at Dunav banka.

The subject of the offer imply that, after acquiring ownership, Telekom Srbija shall fulfill legal commitment, i.e. to send an offer to minor shareholders for the purchase of their shares.

With the acquisition of majority stake and control over the operations of Dunav banka, Telekom Srbija, together with Dunav osiguranje which would remain a significant partner in the bank, creates terms for implementation of planned projects within implementation of the most modern forms of mobile banking and money and payment transfer system..