Egyptians compete for Telekom - Weather Investments to buy tender documentation

Telecommunication company Weather Investments, registered in Italy, has expressed interest in acquisition of Telekom Srbija, people from the Government of Serbia told Beta agency yesterday.

As the people from the Government explained, Weather Investments wants to compete to win the tender for purchase of 51% of shares of Telekom, but, before that, the commission conducting the tender procedure must allow it to buy the documentation for participation in the procedure.

According to the data available on Wikipedia (www.wikipedia.org), Weather Investments is a private telecommunication company, 97% of which is owned by Naguib Sawiris, a citizen of Egypt.

Weather Investments also owns Egyptian Orascom Telecom, the third largest mobile telephony operator in Italy - Wind Telecomunicazioni, and the third largest mobile telephony operator in Greece - Wind Hellas.

The tender commission for the sale of Telekom Srbija has allowed the America Movil company to buy the tender documentation for participation in the tender and that company is expected to do that in the next few days.

The owner of America Movil is Mexican billionaire Carlos Slim, who is, according to the Forbes list, the world's richest man.

So far, three companies - Deutsche Telekom, Telekom Austria and France Telecom - have acquired the status of potential buyers of Telekom Srbija by purchasing the tender documentation.

The deadline for purchase of the tender documentation is extended until December 10, bids will be received prior to February 21, 2011, and the auction sale of the majority package of shares of Telekom Srbija is expected to be organized in late February 2011.

Serbian Ministry of Finance announced on October 20 the tender for sale of 51% of shares of Telekom Srbija, of which total value is estimated at 2.43 billion euros.