UPDATE: The Serbian government has decided to call off the privatisation of Telekom Srbija.
Quoted in the local media, the Serbian PM Aleksandar Vucic said it had done so as the offers it had received were too low.
A total of six were lodged for the 58% stake in the telco, with the highest one being from a US fund that Vucic refused to name.
Earlier, the local media said the fund was Apollo and quoted the offer as €1.2 billion plus a general social programme.
A previous attempt to privatise Telekom Srbija failed four years ago, when Telekom Austria, the only interested party, bid €1.1 billion for a 51% stake in the company.
At that time, the government was seeking a minimum of €1.4 billion for the stake.
The proposed privatisation of Telekom Srbija was not a popular move among the Serbian public, and in particular the telco’s employees.
