Tepic: State is getting ready to secretly sell a 20% stake in Telekom

Deputy leader of the opposition Freedom and Justice Party (SSP), Marinika Tepic, said that “the regime is secretly preparing to sell 20 percent of the shares of the state-owned Telekom Serbia to Cerberus (investment) fund”.

According to Tepic, the sale is being prepared “through a fictitious process” with “pre-arranged buyers” and “without a tender and independent evaluation.”

Cerberus Capital Management, L.P. is a global alternative investment firm with assets across credit, private equity, and real estate strategies. The firm is based in New York City, and run by Steve Feinberg, who co-founded Cerberus in 1992, with William L. Richter, who serves as a senior managing director.

There have been frequent reports about Telekom suffering from serious financial problems. It has been revealed that it owes the Serbian electricity provider, EPS, 11.5 million euros on the account of unpaid electricity bills.

The Commission for the Control of State Aid recently confirmed that it received a case related to the initiative to examine state aid given to Telekom Serbia, related to unpaid electricity bills. According to publicly available information, this state aid was not reported to the Commission, that is, there is no publicly available decision of the Commission approving it.

Also recently, through its company Sky Towers, Telekom Serbia has sold its telecommunication towers and passive assets to Actis for 420 million euros plus another 80 million euros that should be paid to Telekom if Sky Towers reaches its financial goals under the new owners. The deal includes about 1,800 macro towers, of which 1,000 are in Serbia, 700 in Bosnia and around 100 in Montenegro.

(N1, 04.02.2024)

https://n1info.rs/biznis/tepic-rezim-u-tajnosti-sprema-prodaju-20-odsto-akcija-telekoma/

This post is also available in: Italiano

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