News 
Telekom Srbija
03. 07. 2010.
The Government of Serbia has appointed the consortium led by Citigroup Global Markets Limited as their sell-side adviser for the Government’s stake in Telekom Srbija, the state telecommunication company. Harrisons Solicitors are members of the Consortium as the Serbian Legal Advisers. The state owns 80% and the Government is minded to sell 40% thereof but will seek advice from its financial advisers as to the exact amount to be sold. The Transaction is estimated at around EUR 1.5 Billion, ending in a final auction process in November.
Telekom Srbija
29. 03. 2010.
The Government of Serbia has decided to sell a stake in Telekom Srbija, the state telecommunication company. The state owns 80% through PTT, with the remaining 20% owned by OTE. At present the Government is minded to sell a 40% stake as, with over 20% of shares being distributed to citizens and employees, they reason an investor can achieve a majority stake by buying such small shareholdings. The Finance Ministry will organize a procedure for appointing an Adviser, which is estimated to take 3 months. It is hoped bids will be submitted in September from Investors and a final auction process in November.
Komercijalna banka
17. 12. 2009.
Today, 4 leading IFI’s, namely, EBRD, IFC, DEG and Swedfund executed agreements with the Republic of Serbia and Komercijalna Banka, pursuant to which the IFI’s will subscribe for around EUR 120 million of shares in Komercijalna Banka, the largest state-owned bank in Serbia. This is the largest banking deal in Serbia in 2009. Harrisons’ Belgrade Office were the sole domestic legal advisers to the IFI’s.
Galenika
15. 12. 2009.
The Public Invitation was launched today for Galenika A.D. Beograd, the main Serbian State Owned Pharmaceutical Company. Interested Investors must purchase the Information Package by 19th February 2010 and then submit Indicative Bids by 19th March 2010 for a majority stake in the shares of the Company. Hemofarm, one of Serbia’s leading pharmaceutical companies announced yesterday that it would be taking part in the Tender. Estimates of the value of Galenika are put at EUR 200 Million.
Landline Licence
07. 12. 2009.
The Serbian Telecommunications Agency has announced that 4 companies have bought the tender documentation for Serbia’s second landline telephony licence. The companies are, Telenor and Vip Mobile, 2 of the 3 mobile operators presently on the Serbian market, plus Konsing Group (a US/Serbian consortium) and Kerseyco Limited from Cyprus which owns Serbian Internet provider, Verat. The Companies now have to submit offers by January 12th 2010, although this could be pushed back due to Orthodox Xmas holidays. There is no minimum price but if 2 or more bids are received, an auction will decide the winner.