Germany’s WAZ Files Sole Bid for Montenegrin Publisher Pobjeda

Ost Holding was the only company to file a bid  by the October 27 deadline, the government’s privatisation agency said in a statement late on Monday.

The tender commission will now examine the bid, the statement added.

The buyer is required to have at least five years experience in publishing, to have had at least 15 million euro ($19 million) revenue in 2007 and to have run at a profit in each of the last three years.

The agency opened the tender in July after a previous attempt for the sale of Pobjeda, launched at the end of 2007, failed to attract any interest.

The state holds a 76% stake in the company. The remainder is in the hands of small shareholders.

The company has a share capital of 10.99 million euro divided into 2,197,988 shares with a par value of five euro each.

Pobjeda shares traded at an average price of 7.95 euro on Monday, unchanged from Friday, on the Montenegro Stock Exchange, one of the two exchanges in the Adriatic country.

($=0.7990 euro)