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Telekom Austria rues Srbija decision

Telekom Austria has expressed its regret that the Serbian government refused its €1.1 billion bid for a 51% stake in incumbent telco Telekom Srbija.

The Serbian government rejected Telekom Austria’s renewed bid last Thursday, although the offer remains valid for three months. The Austrian telco said the required bid of €1.4 billion “is economically not realisable”.

The Serbian government owns 80% of Telekom Srbija, with Greece’s OTE holding the rest.