Telekom Srbija to squeeze out minorities at MTS banka

Telekom Srbija, which holds a 97.1% stake in the capital of MTS banka, will purchase a total of 375,107 shares at a price of 180.71 dinars ($1.81/1.54 euro) apiece, the company said in a filing with the Central Securities Depository and Clearing House on Wednesday.

The shareholders of Telekom Srbija gave their consent to the squeeze-out of MTS banka minorities at their meeting on September 29, the company said.

State-owned monopoly Srbijagas is the largest minority shareholder in MTS banka with 86,332 shares, or a 0.65% stake, according to data posted on the website of the bank.

(1 euro = 117.558 dinars)