"Telekom Srbija" increases amount of loan for procurement of "Telekom Srpske"

"Telekom Srbija" announced that it expected signing of the contract on international loan in amount of 700m EUR for procurement of "Telekom Srpske" with American "City Group" in the second half of May.

"Telekom Srbija" currently thinks about increase in amount of the loan. The funds will be used for financing of procurement of 65% of stocks of "Telekom Srpske", as well as for general needs of the company. Company started the procedure for obtaining of loan in amount of 700m EUR in February and, in the first phase, eight banks joined the transaction.

In the second phase, another 12 banks joined the arrangement, which resulted in the significant exceeding of the initial target amount of 700m EUR.