A tender for the privatisation advisor for the sale Telekom Srbija will be announced by the end of the year.

Citing a source in the Serbian government, Beta.rs reports that the chosen advisor will assess the true value of the 78.1% of shares in the incumbent currently held by the state, with their decision then requiring the government’s approval.

Four years ago Telekom Srbija was valued at around €2.2 billion.

Although the government sought a minimum of €1.4 billion for a 51% stake, Telekom Austria, the only bidder, was only willing to pay €950 million in cash, promising the rest in investments.

As a result, the tender failed.

As previously reported in Broadband TV News, earlier this year the European Bank for Reconstruction and Development (EBRD) called for the privatisation of Telekom Srbija and expressed interest in participating in the process.

More recently, Vodafone has been mentioned as a possible buyer.