American investment fund Apollo offers EUR 1.2 billion for Telekom Srbija

A EUR 1.2 billion bid for the acquisition of 58-percent stake in Telekom Srbija has been submitted by the American investment fund Apollo. As the daily Novosti reports, this fund plans to take over the Serbian telecom firm, "fix things in the company and then, after two years, sell it to Deutsche Telekom".

Serbia expects proceeds of the sale of majority stake in Telekom Srbija to be around EUR 1.5 billion, although the latest information indicates that the acceptable purchase price has dropped to EUR 1.4 billion.

The final purchase price will also be definitely affected by the social program which is already agreed upon and now lacks only the prime minister's signature.

Telekom Srbija a.d. Beograd

Deutsche Telekom AG Bonn

Apollo Global Management LLC New York

Telekom Srbija

Apollo

Deutsche Telekom

privatization of Telekom