The Serbian parliament has adopted amendments to the country’s law on companies that will have direct impact on the future of Telekom Srbija.
Danas reports that they will allow the incumbent to retain up to 20% of its shares, instead of a maximum of 10%, after the expiration of a three-year period.
Telekom Srbija bought a 20% stake in the company from Greece’s OTE three years ago, and the deadline for the previous maximum ownership limit to be applied would have been January 25.
The Serbian government is in the process of finding a privatisation advisor to help it decided about the best way to sell Telekom Srbija.
It expects to have an answer, which could be strategic partnerships, privatisation, or a third model, by late summer or early autumn.
The telco has reduced its debts by over €250 million in the last two years.
Its sale is opposed by the political opposition, which regards the company as a national treasure.
