EAST CAPITAL: Now is the time for Telekom Srbija to go public

(Photo: telekom.rs)

The stock market launch of Serbia's telecom firm would be a trigger for the country's capital market, Umberger told yesterday's press conference and added that East Capital would also like to see the Electric Power Company of Serbia (EPS) go public.

When asked to give his opinion on why the Serbian government was postponing the listing of Telekom Srbija shares for so long, Umberger replied that they had probably wanted to find a strategic partner for the telecom firm.

- When the Government tried to privatize Telekom Srbija, the price was unrealistically high, hence the failure - Umberger assessed.

He noted that the largest companies in which East Capital held a stake were AIK banka and the Petroleum Industry of Serbia (NIS), but he added the investment fund was also investing in food production, dairy and industrial companies.

According to him, East Capital has so far invested about USD 300 million in the Balkans and about USD 60 million in Serbia alone.