Telekom Srbija to buy bank

March 5, 2014 10.01 Europe/London By Chris Dziadul

Telekom SrbijaThe Serbian incumbent Telekom Srbija is set to buy the Dunav banku (Danube Bank) for an undisclosed fee.

According to, the two parties have reached a framework agreement but no final decision has yet been reached.

Nor is it yet clear which of the existing shareholders in Dunav banku will sell their stakes to Telekom Srbija. notes that Telenor, Telekom Srbija’s main competitor in Serbia, bought a licence from KBC banku (KBC Bank) last year to allow it to develop mobile banking.