Telekom Austria and Carlos Slim give up acquisition of Telekom Srbija

The new poker game involving Telekom Srbija will be played without Telekom Austria and its majority owner America Movil, the Vienna daily Presse claims today, citing much too high price and low profitability as reasons for this.
Telekom Austria and America Movil, a company owned by Mexican bilionnaire Carlos Slim, are not among eight companies that have submitted their bid for the acquisition of majority stake in Telekom Srbija because, as Presse underlines, Serbia is not a successful soil for Telekom Austria.
Austria's Telekom already tried to buy Telekom Srbija in 2011, but this attempt failed due to the price - while Austrians offered EUR 1.1 billion for 51-percent stake in Telekom Srbija, Belgrade set the price at EUR 1.4 billion.
Presse reminds that Serbia decided not to sell 58.11-percent stake in Telekom Srbija below EUR 1.1 billion, thus raising the bar high for all those interested in Serbia's telekom firm, including Deutsche Telekom, Telekom Slovenia, Russia's MTS and several investment funds.
Presse also underlines that Telekom Srbija has 9,000 employees and that it increased the operating profit by 5.7% and registered a turnover of RSD 47.4 billion in the first half of the year.
For the sake of comparison, Austria's Telekom generated a turnover of EUR 1.938 billlion and an operating profit of EUR 665.3 million in the first six months of this year. In addition, Telekom Austria already operates in the market of Serbia through VIP Mobile, and it would have to give up its stake in this operator if it managed to acquire Telekom Srbija.

Telekom Srbija a.d. Beograd

Telekom Austria AG Wien

Deutsche Telekom AG Bonn

Telekom Slovenije Ljubljana

A1 Srbija d.o.o. Beograd

SBB d.o.o. Beograd

mts

Telekom Austria

America Movil

Carlos Slim

Prese

SBB

Deutsche Telekom

Telekom Slovenia

Vip mobile