November 9 (SeeNews) - Montenegro said it has canceled a tender for the sale of a 60.7% stake in its tourism and hotel operator Ulcinjska Rivijera due to lack of investor interest.
The government’s Privatisation Council said late on Friday it scrapped the privatisation procedure after it received no offers by the expiry of the bidding deadline.
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The government had extended the initial September 8 bidding deadline until October 23.
Ulcinjska Rivijera is based on the Adriatic coast and has a registered nominal capital of 63 million euro ($94 million) divided into 1,594,575 shares.
($=0.6664 euro)