Austrians offer EUR 1.1 billion for 51 percent stake in Telekom Srbije

Telekom Austria today offered to pay up to EUR 1.1 billion to the Government of Serbia for the 51 percent stake in Telekom Srbije, the Austrian company announced.

The new offer of Telekom Austria envisages immediate payment of EUR 800 million, while the rest of the price of up to EUR 1.1 billion should be paid in annual installments over the next nine years, reads the company's statement.

The minimum price set by the government for the 51 percent stake in Telekom Srbije is EUR 1.4 billion.