Telecom Companies Sharpen Their Swords For Serbian Telecom Bid

France Telecom, Deutsche Telekom, (Mexican) America Movil, Telekom Austria, (Russian) Weather investments, (Russian) Vimpelcom and Turkcell applied to participate in the bidding for 51 percent of Telekom Srbija,

The deadline for bids is February 21, the finance ministry said.

The Serbian government owns 80 percent of Telekom Srbija, and Greece’s OTE owns the other 20 percent.

In October the Serbian government decided to sell Telekom. The estimated market value is €2.43 billion ($3.22 billion).

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

Until January, Telekom had a monopoly in the country. then Norwegian telecommunication company Telenor won a license to develop the Balkan country’s second fixed telephone line network.

The country has approximately 7.5 million people.

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