Business News
Serbia to sell stake in Telekom Srbija
Mar 26, 2010, 17:41 GMT
Belgrade - Serbia's government said Friday it plans to sell a 40 per cent stake of its most successful company, Telekom Srbija.
The government has an 80 per cent stake in the firm, while the Greek company OTE holds the remaining 20 per cent.
Telekom Srbija is the country's most profitable company. It operates landline phones, as well as a mobile network and provides internet and cable television services.
The government said it would use the money from the sale to improve country's roads and railways.
The 40-per-cent-stake is unofficially valued at between 2.6-5.3 billion dollars. Critics say Serbia's ruling parties want to boost their popularity before elections due in 2012.
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