Lucic: Telekom has no intention of selling stocks, aims to expand

BELGRADE - Telekom Srbija CEO Vladimir Lucic said on Tuesday the Serbian telecoms giant had no intention of selling stocks but instead aimed to expand its operations and become the industry leader in the Western Balkans.

Lucic said this in a reaction to claims by some opposition representatives that Telekom Srbija was preparing to sell 20 pct of its stocks.

He said a regrouping in the industry was to take place in the region and that other operators would sell stocks this year but that Telekom Srbija would definitely not do so.

He noted that Telekom Srbija had announced an expansion to the US market.

"This year, it will become evident that Telekom Srbija is the winner of the commercial battle and that it is stronger than ever," Lucic said, noting that the company's revenues would be close to 2 bln euros in 2024.

Telekom Srbija needs to expand and it is good that it has remained a state-owned company, he said.

"Because, as a national operator, we can play a major role in development of a digital future. What the next 15 years have in store for us is a new future based on artificial intelligence, the 5G network and optical internet. A strong national operator can accelerate that future to a significant degree so, by expanding to the US market as well, Telekom Srbija will become quite a strong market player," Lucic said.