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Serbia: Tender for Advisor on Telecommunications Privatisation Print E-mail
Tuesday, 24 May 2005
Serbia has launched a tender to find a financial advisor to assist with the privatisation of its telecommunications sector, Finance Minister Mladjan Dinkic said.

Serbia’s telecommunication operators are expected to draw significant interest, as Serbia is the only country in southeast Europe where large foreign investors have yet to enter the sector. Serbia intends to decide which companies it will sell in the second half of the year. The government currently owns stakes in the country's two mobile operators – Mobtel and MTS 064 – as well as fixed-line monopoly provider Telekom Srbija.

The government is involved in a dispute with local businessperson Bogoljub Karic over the ownership structure of Mobtel. The company was set up in 1994 as a 51 / 49 joint venture between BK Trade, controlled by Karic, and state-owned telecommunications group PTT. The government has challenged Karic's holdings, saying the state-owned stake has increased due to government investments made in Mobtel through 1997.

A government-appointed commission ruled that the Serbian state is the majority owner of Mobtel, following a probe into the ownership structure of the company. Karic has filed a claim with the international court in Zurich. A court ruling on the claim is expected in September.

Source: SeeNews