MTS Bank to be Merged with Postanska Stedionica, Telekom to Become Co-owner of Postanska Stedionica

The Commission for Protection of Competition has adopted the decision whereby, in a summary procedure, the market concentration through the merger of Postanska Stedionica Bank and MTS Bank is approved.

The decision says that the two business entities filed the notification of the concentration to the commission on February 12, 2021, and proposed for the commission to approve the concentration in a summary procedure.

The majority owner of Postanska Stedionica is the Republic of Serbia, which owns a 79.01% stake, whereas the minority stakeholders are the PE Post of Serbia (19.95%), the Pension and Disability Insurance Fund (1.01%) and the Development Fund of the Republic of Serbia (0.03%).

MTS Bank has been 100% owned by Telekom Srbija since October 2020.

As said in the explanation of this decision, the intention is for MTS Bank to be merged with Postanska Stedionica, following which MTS Bank is to cease to exist without a liquidation process. After the merger, the Republic of Serbia will have a 71.05% stake in Postanska Stedionica, the Post of Serbia will have 17.94% and Telekom Srbija will have 10.08%.

According to the commission’s conclusion, the joint market share of Postanska Stedionica and MTS Bank is around 6.2%, which, as said, will not have a negative effect in the market of banking services in Serbia.

B. P.

Komisija za zaštitu konkurencije Srbije

Banka Poštanska štedionica a.d. Beograd

Telekom Srbija a.d. Beograd

mts banka a.d. Beograd

merger

ownership in Poštanska štedionica