Serbian online news portal EMportal is reporting that Greek telco OTE is mulling plans to sell its minority stake in Telekom Srbija. The story says that OTE has not disclosed a time frame for its plans to sell the 20% stake, which it bought from the Serbian government in 1997 for about USD418 million.
Last week the Serbian government, owner of the remaining 80% of the company, launched a tender for the sale of a 51% stake in Telekom Srbija, without setting a minimum price, with interested investors invited to file bids by 26 November. A decision by OTE to ditch its stake may mean that Belgrade will opt to reduce the number of shares on offer to 31%.
The Serbian press is speculating that Deutsche Telekom is the most likely purchaser of Telekom Srbija, with reports circulating that it has offered the Serbian government EUR1.2 billion for a 51% stake, somewhat short of the EUR1.4 billion pricetag Belgrade is believed to have put on the asset. Deutsche Telekom has a 30% stake in OTE.