America Movil to make a bid on Telekom Srbija stake

America Movil (NYSE: AMX) has set its sights on getting a piece of the Serbian telecom market.

Carlos Slim's service provider conglomerate, reports TeleGeography, has filed tender documentation for a 51 percent stake in Serbia's incumbent service provider Telekom Srbija.

Of course, the Mexican operator will face a strong set of European telecom competitors, including Telekom Austria (NYSE: TKA), Deutsche Telekom (XETRA: DTE.DE) and France Telecom (NYSE: FTE), for the stake in the service provider. Set to be completed in Q1 2011, the Telekom Srbija deal is estimated to be worth EUR 2.43 billion ($3.28 billion).

News of America Movil's move on the Telekom Srbija stake comes not long after the Mexican service provider announced that it would seek opportunities outside of Latin America.

For more:
- TeleGeography has this article

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