A total of six bids have been received for Telekom Srbija, according to Rasim Ljajic, Serbia’s minister of trade and telecommunications.
Speaking to the public broadcaster Radio-televiziji Vojvodine, he added that they were mainly from investment funds.
While not naming any, he said there was no business relationship between the French company Lazard, which is acting as an advisor, and the US fund Apollo, together with Telekom Slovenije, is understood to be one of the bidders.
Ljajic also refused to comment on the sale price being €1.4 billion, stressing only that it involved the sale of a 58.01% stake in the company. Furthermore, he said that any Telekom Srbija employees made redundant following the sale would get the maximum severance pay.
Ljajic also said that the sale process is now in its second phase, during which the offers are analysed for a period of 14 days.
This will be followed by the third phase, when it will be decided whether to proceed with the sale or conclude that none of the offers is appropriate.
