Business Politics

Telekom Serbija eyeing Globaltel in market consolidation move

Consolidation may be in order in the Serbian telekom sector, with Telekom Serbija reportedly eyeing a takeover of Globaltel, according to media reports.

Telekom Serbija CEO Vladimir Lucic announced that he is planning to buy 100 percent of Globatel, which is majority owned by Pink Media Group, as reported by the weekly news magazine, NIN, and the Serbian news site,

Reportedly, this move also in part goes back to protests and politics, as Serbian President Aleksandar Vucic—in response to May  and June protesters who have claimed that state TV reality shows promote mafia behavior and violence—demanded the end of the reality show, “Zadruga.” Lucic reportedly told NIN that the purchase of Globaltel was “compensation” to Globaltel owner, TV Pink/Pink Media Group, which lost the show and also to co-Globatel owner, Sava Terzic, for a lost Belgrade contract.

Lucic did not reveal the price to be paid for Globaltel.

Photo by GennadyL, CC0, via Wikimedia Commons.

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