As per reports, it has been unveiled that Telekom Austria AG has been giving a stiff competition to acquire cable operator Serbia Broadband.

The firm, partly owned by the Austrian state and SAB, is in competition with other private-equity firms to buy Serbia Broadband for 1 billion euros. Some of the companies that have been bid for the project are Providence Equity Partners Inc, Cinven Advisers LLP and Altice Finco SA.

To talk about Serbia broadband, it has been found that the company is owned by Mid Europa Partners LLP, private-equity form based in London. Sources known to the matter were of the view that the cable operator can be sold 10 times more than its estimated earnings.

Sources known to the matter were of the view that it was not easy for Telekom Austria to compete with other private-equity forms and bid for the cable operator. They affirmed that Telekom Austria would have to sell their new shares, so that they can have enough money to buy the same.

There are chances that the company might sell shares worth 1 billion euros to fund the purchase. In addition, it has been found that Telekom Austria traded at 5.6 euros, which was 2.6% down.