Telekom Austria back in race for SBB - Price set at EUR 1 billion

Telekom Austria is back in the competition to buy Serbia's cable operator SBB for as much as EUR 1 billion, Bloomberg reports.

In order to finance the acquisition of SBB, Telekom Austria will have to sell new shares, which was earlier announced by the management of that company.

Other bidders for SBB include Providence Equity Partners Inc, Cinven Advisers LLP, and Altice Finco SA.

Altice plans to submit its bid in October, Bloomberg adds, stressing that none of the spokespersons for aforementioned companies wanted to comment on this information.