Serbian Government to buy back Italian share of Telekom Srbija.(Brief Article)

EuropeMedia, January, 2003

EUROPEMEDIA-(C)2003 Van Dusseldorp & Partners - http://www.vandusseldorp.com/

The Serbian government announced last weekend that it had agreed to buy back the 29 per cent of Telekom Srbija sold in 1997 to Stet International, the Italian telco. This will increase PTT Serbia's holdings from fifty-one per cent to eighty per cent, and give the Serbian public utility more influence over Telekom management.

The shares in Telekom Srbija had been sold originally for E477.12m (29.3bn Dinars), in a deal described by the Financial Times as "a spectacular windfall" for former Yugoslav president, Slobodan Milosevic, as it probably secured his re-election. The Italian senate, magistrates in Turin and the Serbian government all launched investigations into whether...

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