London and Essen want to buy "Novosti"

As a respectable publisher with experience of investment in the countries of southeast Europe, we are interested in participation in the privatization process in company "Novosti" - German Media Group WAZ announced. The interest in procurement of our company was also expressed by media company "Nortklif", the owner of British "Daily mail", which sells 2.4 million copies of newspaper on daily basis.

According to the announcement of WAZ, this media company from Essen submitted offer for takeover of majority package of stocks of company "Novosti", one year ago, on the basis of the Law on securities market and other rules for legal realization of privatization.

All this is supported by the banking guarantee, which was deposited to the Securities Commission by a member of the Central Securities Registry, which implies that all stockholders who want to sell their stocks to us will be paid in total - this is written in the text signed by Dr Srđan Kerim, a representative of WAZ for Southeast Balkans.

German Media Group warns in its announcement that the "bidding the price of stocks outside stock exchange rules out the principles of fair market competiton".

German media company claims that it is ready to compete with all other bidders and that the stockholders of Company "Novosti" will be offered price that will fit to their business interests, as well as adequate social and investment program.

British company "Nortklif" warns that "it is not clear on the basis of which the private investor intends to buy stocks". They are, as they claims, ready to offer fair price in cash to the stockholders, along with the suitable investment and social program and, in that way, provide continuation of independent editing policy and support as a strategic partner.

Both media companies reacted to the news that basketball player Vlade Divac showed interest in procurement of majority package of stocks of our company. He is already in the middle of the negotiations with the representatives of the Association of minor stockholders of "Novosti" and he purchases stocks, with the precontracts and contracts, at price of 2,500 EUR. The Government of Serbia has recently announced that these transactions can be carried out only within the frame of the legally regulated procedure and after resolving of disputable ownership relations between the State and stockholders.