Bosnia’s Telekom Srpske, a unit of Serbia’s Telekom Srbija, has confirmed that it is no longer the owner of Montenegrin cable provider Cabling, but has instead increased its stake in its sister company, Montenegro-based mobile firm m:tel Podgorica (MTEL). The asset shuffle was revealed by Telekom Srpske in a statement to the Banja Luka Stock Exchange.
The Bosnian telco notes that its stake in MTEL is equal to that held in Cabling, suggesting that it now holds a 100% interest in the Montenegrin mobile operator, up from 49% previously. According to TeleGeography’s GlobalComms Database, prior to the transaction, MTEL was owned by Telekom Srbija (51%) and Telekom Srpske (49%). The non-cash asset swap suggests that Cabling is now 100% owned by Telekom Srbija, although no confirmation of this detail has been forthcoming.
It remains unclear as to whether the corporate reshuffle relates to the ongoing privatisation of ultimate parent company Telekom Srbija; earlier this month Serbia’s Privatisation Agency issued a public invitation for non-binding bids for participation in the sale of the government’s shares in Telekom Srbija. Telekom Srbija’s international subsidiaries include Telekom Srpske of Bosnia and MTEL of Montenegro.