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Telekom Austria ‘back in race’ for Serbia Broadband

Telekom Austria is reported to be vying with private equity firms to buy cable operator Serbia Broadband (SBB) for up to €1 billion.

Bloomberg reports that Telekom Austria - which owns mobile operators in Serbia, Bulgaria, Croatia and Slovenia and which is part-owned by Mexican billionaire Carlos Slim’s telco América Móvil - is back in the race after “dropping off a shortlist” of firms looking at SBB’s accounts.

Other bidders for the Belgrade-based business include Providence Equity Partners, Cinven Advisers, as well as Altice Finco, said Bloomberg.

Telekom Austria signed a fibre deal last week with Dutch carrier KPN – which itself was the subject of a recent €7.2 billion buyout offer from América Móvil. América Móvil already owns a 21% stake in the firm.

When it announced its first half results earlier this month, Telekom Austria confirmed TV gains but a fall in revenues. It blamed the fall on regulation, competition and economic conditions in Eastern Europe.

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