Lucic: Debt of Telekom EUR 1.4 Billion, Bonds to Be Put Up for Sale

Sunday, 03. Jul 2022.

Telekom is announcing the sale of bonds of half a billion euros, and the company’s CEO, Vladimir Lucic, says that the money earned that way will be used for, as he called it, the diversification of the debt and for loan refinancing. He admits that the company currently owes EUR 1.4 billion, but also claims that the revenues are growing substantially.

The new S.O.S., worth half a billion euros, will be sent by Telekom from either the Frankfurt or the Luxembourg stock exchange. The company’s head is convinced that investors will no longer be reluctant due to the war in Ukraine and has an optimistic vision when it comes to the sale of Telekom’s bonds: there will be money to cover both the debts and the loans, but also to invest again.

– Practically, our net debt is EUR 1.4 billion. What’s good is that, in 2021, we had an intensive investment cycle, we even bought the English and Italian leagues, but we didn’t increase the total consolidated debt. That means that our revenues are growing substantially and, in late 2022, we will start lowering the debt, and the profitability will increase – said Vladimir Lucic, the CEO of Telekom Srbija.

Marinika Tepic, a politician from the opposition, claims that Telekom is faking nearly all the results and that the actual revenues are much lower than cited by the company.

– In 2017, Telekom had a net debt of EUR 468 million, and now it has a debt of EUR 1.5 billion – Tepic tweeted.

We have a very turbulent financial report on Telekom’s operations ahead of us, says the economic journalist Misa Brkic. He concludes that, once officially published, Telekom’s 2021 results will reveal bad business operations and wonders who will guarantee for the bonds that the company plans to sell.

– If it’s the state, what that means is that it will once again borrow half a billion euros and, in case Telekom is not able to repay that, the state will back them. It’s the same as in the cases of the borrowing done by Srbijagas or EPS – Brkic.

Source: eKapija

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