Wednesday, May 14, 2008

FBiH to offer 51% stake of BH Telecom to strategic partner.

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FBiH to offer 51% stake of BH Telecom to strategic partner. The 90% state-controlled BH Telecom will seek a strategic partner for purchasing a 51% stake in the company, FBiH deputy PM Gavrilo Grahovac said for daily Nezavisne Novine . Grahovac elaborated that the FBiH government is to preserve 25% plus 1 share ownership in the company; 10% will be probably floated on an international stock exchange, most likely in London, while 3% will be freely offered to citizens. According to earlier estimates of the cabinet, the value of the 90% stake in BH Telecom amounts to KM 2.5-3bn (EUR 1.3-1.5bn); the privatisation process is expected to begin in mid-year. BH Telecom reported a net profit growth of 2.1% y/y to KM 163.4mn in 2007, company’s revenues expanded by 6% y/y to KM 612mn. The companies that have so far showed interest in BH Telecom are Mobilkom Austria , Deutsche Telekom , Turkey ’s leading mobile phone operator Turkcell and France Telecom.

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FBiH to offer 51% stake of BH Telecom to strategic partner.

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