A consortium led by Citigroup is the sole bidder to advise Serbia on the sale of a 40% stake in Telekom Srbija, according to a statement by the country’s finance ministry. The tender commission now has two weeks to consider the financial offer by the consortium and decide whether to accept it. In March Belgrade announced plans to sell half its 80% stake in Telekom Srbija and invest the money in infrastructure projects. As part of the sales procedure, the government called a tender for a financial advisor to determine the value of shares and advise the best sale procedure. Deutsche Telekom has said it is mulling an offer for the stake; it already has an interest via Greek operator OTE which owns the remaining 20% of the Serbia company.
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