Only bid for Telekom Srbija submitted by Telekom Austria - EUR 950 million for shares, EUR 450 million for investments

The only bid for the acquisition of the 51% stake in Telekom Srbija has been submitted by Telekom Austria".

The Task Force for the sale of Telekom Srbija today opened the bid submitted by Austrian Telekom, which has offered EUR 1.4 billion, EUR 950 million of which for the stake and the rest for investments.

President of the Task Force Vuk Djokovic said that the bid would be analyzed over the next five days and that the Government of Serbia would announce it's decision on the bid on Monday, March 28.

The deadline for the submission of bids for the purchase of the 51% stake in Telekom Srbija expired today at 2 PM.

The status of an official bidder on the tender was enjoyed by six companies - Telekom Austria, Deutsche Telekom, Turkcell, America Movil, Weather Investments, and France Telekom, and the Task Force expected to receive at least four bids.

The minimum price for the majority package of shares of Telekom Srbija is EUR 1.4 billion. The Government of Serbia will sell 31% of shares, while Greek OTE is going to sell it's entire 20% stake in Telekom. Deutsche Telekom has a 30% stake in the company OTE.

Telekom Srbija owns telecommunication companies M:tel in Montenegro and Telekom Srpske in Bosnia and Herzegovina.

The tender for the sale of Telekom Srbija was announced on October 20, 2010.