Serbia abandons privatisation of Telekom Srbija for second time

Serbian officials have rejected all bids for a majority stake in its national telecoms company, Telekom Srbija, claiming that the offers it received were too low.

The six bidders have not been named, and this is the second time the Serbian government has attempted to privatise the company.

Prime Minister Aleksandar Vucic told reporters on Friday December 11 that the bids had come in lower than the government and unions had hoped for.

“I am not happy with this decision,” he said at a press conference. “I wish we had a better price.”

Serbia owns 58% of Telekom Srbjia, with 20% owned by the company itself and 7% in the hands of its 9,800 employees.

The government may decide to offer a package of minority shares on the stock market instead, according to local reports.

Last month, China Telecom was revealed as one of the bidders for the Telekom Srbija stake.