Serbia’s Privatisation Agency has announced a call for non-bindings offers for the sale of Telekom Srbija.

According to Novi Magazin, interested parties can request documentation up until July 23 and the deadline for non-binding bids is August 2.

Participants will be domestic and foreign companies that have provided mobile services for at least three years.

They will also be required to have had revenues from telecom services in excess of €500 million in the last three years or raised funds in excess of €500 million in the last 10 years.

Alternately, the value of their assets will have amounted to at least €2 billion as of the end of 2014.

Investors wishing to participate in the process will be required to have held a minimum stake of 10% n at least one telco , with annual revenues of at least €500 million in at least one year of investment, in the last 10 years.

The privatisation of Telekom Srbija was launched by the Serbian government on June 25.

The telco is currently majority (58.11%) owned by the state, with the company (20%), citizens (14.95%) and current and former employees (6.94%) holding the remaining shares.