BELGRADE (Serbia), April 6 (SeeNews) - Serbia's competition authority said it gave the green light to the integration of lender MTS banka, fully owned by state-owned Telekom Srbija, into state-run lender Banka Postanska Stedionica.
The concentration of market participants resulting from the integration of MTS banka into Banka Postanska Stedionica was approved in a simplified procedure, the competition watchdog said in a notice posted on its website.
Banka Postanska Stedionica and MTS banka submitted a notification of concentration to the competition regulator on February 12, the watchdog said.
The Serbian state owns a 79% stake in the capital of Banka Postanska Stedionica, state-run post operator Posta Srbije controls 19.95%, while the remainder is controlled by the country's pension fund and the state-owned development fund.
After the merger, the Serbian state will own 71.05% of Banka Postanska Stedionica, 17.94% will be controlled by Posta Srbije, and 10.08% q=will be in the hands of Telekom Srbija.
(1 euro =117.558 dinars)