After citizens got 1,700 RSD in cash and the certificate of ownership of five stocks of Petroleum Industry of Serbia (NIS) in January, they can expect to receive similar certificates for free stocks of Telekom and Airport Nikola Tesla by the end of this year.
The citizens obtained 2,500 RSD worth of five stocks of NIS each, while the value and number of stocks of Telekom they are going to get will be known once the appraisal of the value of Telekom's capital is done. What is for sure is that 4.8m people will get 15% of state-owned stocks of Telekom and Airport Nikola Tesla.
- The exact share of former and current employees in Telekom will be known after the appraisal of capital is done - says Nebojša Ćirić, the State Secretary in the Ministry of Economy.
- The Law stipulates the transfer of free stocks to citizens and employees within six months from the moment of privatization or a change in the ownership structure.
The appraisal of Telekom's value should be done soon and the Government of Serbia will choose the consultant within next three months to do that job. By the way, the state decided to sell half of its share of 80% in Telekom's capital on an international tender. The plan is that the sale of that share be done in public, in front of cameras, in a similar way to the sale of Mobtel.
Total of 38,848 former and current workers of Postal Company and Telekom applied for free stocks of Telekom in summer 2008. According to the Law on Free Stocks, they can expect to obtain the stocks worth 200 EUR per year of work. It was said earlier that the employees would get between 12 and 15% of Telekom's capital.
In addition to 1,700 RSD in cash that each of 4.8m people got for earlier privatizations, the citizens will be able to trade in their stocks of NIS from late June. The precondition for that is that NIS be transformed from the closed into an open joint-stock company.
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