Telekom Srbija A.D., Beograd (Serbia)

Telecommunications company Telekom Serbia offers fixed, mobile, Internet and multimedia service. The company operates in Serbia, Bosnia and Herzegovina and Montenegro. The telecom group has around 5.9 million mobile clients, 3 million fixed-line customers, 790,000 internet users and 270,000 multimedia subscribers.
Telekom Srbija was incorporated in June 1997 as a fully-owned subsidiary of Serbia's state-owned telecommunications group PTT Srbija. Greek telecoms operator OTE and Telecom Italia together became shareholders in Telekom Srbija in 1997 for nearly USD 1.0 billion, in a single sell-off to foreigners during the rule of Slobodan Milosevic. The Serb reformers who ousted Milosevic in October 2000 bought back Telekom Italia's 29% stake in the Serbian company in December 2002 for EUR 195 million bringing the state stake to 80%. Telekom Srbija's mobile operator launched operations in August 1998 and claimed over 3.0 million active subscribers at the end of 2005. In September 2010, PTT Srbija transferred its 80% share to the Serbian government. The owner of the remaining 20% stake was Greece's OTE. A month later, the government announced a tender for the sale of a 51% stake in Telekom Srbija, but no deal was signed.