Serbia’s Telekom Srbija to issue $543 million Eurobond

Serbia’s state owned Telekom Srbija will issue a 500 million euro ($543 million) Eurobond, most likely in Luxembourg or Frankfurt, its chief executive said on Tuesday.

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

“This will open possibility for a quick reaction in case of any new acquisition opportunities in the region,” its CEO Vladimir Lucic told Reuters in a telephone interview.

Lucic earlier told Tanjug news that some of the money raised will also be used for infrastructure development.

Serbia owns 58.11per cent of Telekom Srbija, while the company holds 20per cent, employees 6.94per cent and Serbian citizens 14.95per cent.

Lucic said it expects 17 billion dinars ($157 million) net profit in 2022, nearly 30per cent higher than last year. CNA