October 1, 2018 / 9:13 AM / a year ago

Serbia's state telco bids for Telekom Albania -report

BELGRADE, Oct 1 (Reuters) - Serbia’s state-run Telekom Srbija has made an offer to acquire Telekom Albania as it looks to expand in the Balkans, the Belgrade-based Vecernje Novosti reported on Monday, citing sources.

Telekom Albania has 39 percent market share in Albania’s telecommunications sector and is 99.79-percent owned by Greece’s OTE.

Two more companies, Czech PPF Group and Bulgaria’s Vivacom are also vying to acquire Albania Telekom, the report said. It gave no further details.

Telekom Srbija officials were not immediately reachable for comment.

Telekom Srbija is also a majority shareholder in Bosnia’s second-largest telecom operator, Telekom Srpske, and controls Montenegrin mobile operator M:Tel.

The consolidated net profit of the Serbian operator in 2017 stood at 14.7 billion dinars (124.48 million euros), down from 14.95 billion dinars the year before. The company’s investments in 2017 fell by 6.2 percent to 26.7 billion dinars.

Serbia tried to sell a majority stake in Telekom Srbija in 2015 as it sought to offload some state assets, but rejected all six offers as too low.

1 euro = 118.0928 Serbian dinars Reporting by Aleksandar Vasovic; Editing by Emelia Sithole-Matarise

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