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Serbia May Cancel Telekom Srbija Sale, Turn to Bond Sales

Serbia will probably cancel the sale of Telekom Srbija AD and turn to bond sales for its financing needs after a lone bid by Telekom Austria AG failed to match the government’s asking price.

A government commission is due to meet later in the afternoon and will announce a decision tomorrow at 2 p.m. in Belgrade on whether the government should accept the Austrian offer of buying the 51 percent state stake for as much as 950 million euros in cash and 450 million euros in investments.