Eight companies have made preliminary bids for Telekom Srbija that meet the government’s selection criteria, it emerged on Wednesday.
Serbia’s government holds a 58.1% stake in the operator and has tried in the past to offload it, but to no avail. In early July it restarted the privatisation process by issuing a set of rules for prospective buyers.
Interested parties must prove that they have recorded annual telecoms-related revenues of €500 million or have €2 billion worth of assets under management, as of the end of last year.
On Wednesday, Serbia’s privatisation agency announced that eight bidders have so far made the grade. It plans to publish a final shortlist on Monday, once the suitors have been further scrutinised.
"We’ll see if all eight offers go on the shortlist," said Rasim Ljajic, minister of trade tourism and telecommunications.
Those that make the cut will receive a letter inviting them to procure a look at Telekom Srbija’s books.
This is the latest in a string of attempts to privatise Telekom Srbija.
In 2011, it rejected a €1.1 billion offer from Telekom Austria, having stated that it aimed to raise at least €1.4 billion from the process.
Orange, Vimpelcom, Deutsche Telekom, America Movil and Turkcell also showed interest in Telekom Srbija at that time.
Greece’s OTE held a 20% stake in Telekom Srbija from the late 1990s until early 2012 when it sold the shares back to the state for €380 million. Similarly, Telecom Italia sold back a 29% stake in the telco for €195 million in 2003.
