Telekom Austria has revised its offer to €1.1 billion for a stake in Serbia’s state-owned telephone company, The Wall Street Journal reports. The Vienna-based group had initially offered a conditional €800-950 million for the 51% stake in Telekom Srbija.
The revised bid includes €450 million in pledged investments over a three-year period. Serbia, which owns 80% in Telekom Srbija, had requested unconditional bids of at least €1.4 billion.
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