19 April 2013
| Mitch Sayers
Telekom Srbija has released figures showing its 2012 net income fell by almost half.
national operator posted a decline of 49.5%, dropping from
22.27 billion dinars in 2011 to 11.25 billion dinars ($131.75
million) for 2012. Costs rose to nearly four times of its 2011
figure to 12.36 billion dinars while company assets dropped in
value from 172.9 billion dinars to 165.3 billion
operator Telekom Srbija had previously raised €470 million
through a bank syndicate in 2012 in an effort to consolidate
ownership and refinance its debts.
government remains open to selling Telekom Srbija if its
€2.5 billion valuation is met, according to reports from
2012 financial results