• Germany's news in English

Deutsche Telekom preps for Serbian telecom bid

AFP · 11 Dec 2010, 12:08

Published: 11 Dec 2010 12:08 GMT+01:00

Facebook Twitter Google+ reddit

"Deutsche Telekom, France Telecom, Telekom Austria, (Mexican) America Movil, (Russian) Weather investments, Turkcell and (Russian) Vimpelcom applied to take part in the sale of 51 percent of Telekom Srbija," the finance ministry said in a statement.

Binding bids are due by February 21, the ministry said.

If multiple bids are received, a televised auction will be held by the end of February, it added.

The buyer offering the highest bid will win, and in case only one bid is received, Telekom would be sold for the offered price.

The government of Serbia owns 80 percent of Telekom Srbija, while the remaining 20 percent is owned by Greece's OTE.

The Serbian government decided in October to sell Telekom, setting an estimated market value at €2.43 billion ($3.22 billion).

According to Economy Minister Mladjan Dinkic, the Serbian government expects to get at least €1.4 billion for Telekom. The government has said the proceeds would be used for reconstruction of the country's infrastructure.

Telekom enjoyed a monopoly in the country until January, when Norwegian telecommunication company Telenor won a licence to develop the Balkan country's second fixed telephone line network.

Telekom also owns the biggest mobile phone operator MTS in the country of some 7.5 million people.

Story continues below…

According to its website, Telekom Srbija earned 13.3 billion dinars (€12.5 million) profit in 2009. It has 3.2 million clients in fixed telephony and 5.9 million clients in mobile telephony, which represents 60 percent of the market.

The Serbian company also owns telecommunication operators in Montenegro and Bosnia with an additional 1.8 million clients in mobile and 200,000 users in fixed telephony. It has more than 600,000 internet subscribers.

The group Telekom Srbija employs more than 14,100 people, including 9,655 in Serbia.

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
Student fined for spying on women via their webcams
Photo: DPA

Student from Munich fined €1,000 for spying on 32 different computers, using their webcams to take photographs, or record their keyboard history.

This is how much startup geeks earn in Germany
Photo: DPA

A comprehensive new survey of 143 startup founders shows how much you are likely to be earning at a German startup, from entry level all the way up to sitting on the board.

Man dies after beating for peeing near Freiburg church
The Johannes Church in Freiburg. Photo Jörgens Mi/Wikipedia

A middle-aged man from southern Germany has died after being attacked by a group of men who took umbrage with the fact he was urinating in the vicinity of a church.

The Local List
Seven German celebrities with uncanny doppelgängers
Former Berlin mayor Klaus Wowereit and actor Alec Baldwin. Photo: DPA; Gage Skidmore, Wikimedia Commons

Check out these seven look-a-likes of well known German figures - we admit that some are more tenuous than others...

Israel seeks to buy three new German submarines: report
A Dolphin class submarine. Photo: DPA

Israel is seeking to buy three more advanced submarines from Germany at a combined price of €1.2 billion, an Israeli newspaper reported Friday.

Here’s where people live the longest in Germany
Photo: DPA

Germans down south seem to know the secret to a long life.

More Germans identify as LGBT than in rest of Europe
Photo: DPA

The percentage of the German population which identifies as lesbian, gay, bisexual or transgender is higher than anywhere else in Europe, according to a new study.

'Reichsbürger' pair attack police in Saxony-Anhalt
File photo: DPA.

A "Reichsbürger" and his wife attacked police officers on Thursday, just a day after another Reichsbürger fatally shot an officer in Bavaria.

Five things not to miss at the Frankfurt Book Fair
Photo: DPA

From consulting a book doctor to immersing yourself in an author's world with the help of virtual reality, here are five things not to miss at this week's Frankfurt Book Fair, the world's largest publishing event.

Parents who don't get nursery spot for kid entitled to pay
Photo: DPA

The Federal Court of Justice (BGH) ruled on Thursday that parents whose children don't receive placements in nursery care are entitled to compensation.

Sponsored Article
How to vote absentee from abroad in the US elections
10 things you never knew about socialist East Germany
Sponsored Article
Last chance to vote absentee in the US elections
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
Sponsored Article
How to vote absentee from abroad in the US elections
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd