Government of Montenegro pays stocks of Telekom Crne Gore more in order to enable 51 million EUR of Hungarian Telekom enter the market

Montenegrin Government decided to pay additional sum for 49% of stocks that Matav – Hungarian telekom should purchase from minor stockholders of Telekom Crne Gore. The Hungarians won the tender for privatization of Montenegrin provider and offered price of 2.2 EUR per stock to minor stockholders, which they rejected, so that the Government decided to pay additional 30 cents per stock wishing to create conditions for 51 million EUR, which is the amount Hungarians offered, to enter Montenegrin market.

In case minor stockholders sold their 49% of stocks, Government would spend about 7 million EUR in that way.