Telekom Srbija to Buy Globaltel from Pink Media Group

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Serbian state-owned telecommunications operator Telekom Srbija intends to fully take over – i.e. buy 100 percent of the shares of – Globaltel, a mobile virtual network operator majority-owned by Zeljko Mitrovic’s Pink Media Group, Telekom CEO Vladimir Lucic has announced.

Speaking for the June 8 edition of the NIN weekly, Lucic insisted that the Globaltel purchase in no way constitutes compensation to either Zeljko Mitrovic – for canceling the Zadruga reality program at President Aleksandar Vucic’s behest – or to Globaltel shareholder Sava Terzic – for the annulment of public transport ticketing contract between the City of Belgrade and Kentkart Southeast Europe, whose Serbian partner and representative is Terzic.

According to the Telekom CEO, buying Globaltel is part of his company’s business strategy “to consolidate the market and take over the competition.” Moreover, Lucic maintained, negotiations for the takeover began “months before” Kentkart lost its contract and the decision was made to shut down Pink TV’s reality program.

Asked about the value of the deal, Lucic said that he could not disclose a business secret, but that the claims of a EUR17 million price tag are false.