Telekom Austria's additional time to rebid for a 51 percent stake in Telekom Srbija will officially end on Wednesday, after which the Serbian Government will consider the offer and inform citizens about the final decision on the sale of part of the stake in the Serbian operator.

The working group of the Serbian government in charge of the sale of a 51 percent stake in Telekom Srbija refuted on Monday the media speculation that a 30 percent stake in Telekom Srbija had been sold to Telekom Austria for EUR 840 million and stressed in a release that the information was “absolutely false.”

According to the release, the government and the working group have timely informed the public of every step taken in the process of selling a 31 percent stake in Telekom Srbija owned by the Republic of Serbia and of the remaining 20 percent owned by Greek telecommunications company OTE (OTEr.AT).

It was reiterated that the minimum price for the sale of a 51 percent stake in Telekom Srbija is EUR 1.4 billion.

Upon expiration of the international tender on March 21, the only bid submitted was by Telekom Austria, but the Serbian government gave the company additional time to improve the financial part of the offer on two occasions - on March 29 and on April 13.

The second additional deadline expires Tuesday, or, legally, on the following day, May 4, the first working day following the holidays.

Telekom Austria offered up to EUR 950 million for a 51 percent stake plus an additional 450 million in investment in the next four years.