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15.01.2009 19:29
Serbia extends deadline in 3rd tender for RTB Bor
BELGRADE, Jan 15 (Reuters) - Serbia has extended a bid deadline for a month in its third attempt to sell a 67 percent stake in troubled, state-owned copper complex RTB Bor, the Privatisation Agency said on Thursday.

Feb. 27 is the new deadline for submitting bids.

'The decision was made taking into account the global economic crisis, a very difficult situation in the world metals markets and the condition in which RTB Bor is at the moment,' the state-run agency said.

In the tender, published in early November, Serbia said it expected potential buyers to invest at least $300 million.

Since July 2008, when the government launched the third tender calling on prospective bidders to express interest, eleven companies have been identified as potential buyers, including Italy's KME and Greece's Aktor.

The list also included Canadian Dundee Precious Metals , India's Aditya Birla Group, Swiss-based commodities trader Glencore, Russian Copper Company, Bulgaria's Asarel-Medet, Cyprus-based East Point and one U.S. and two UK-based investment funds.

Run down during the 1990s -- a decade of wars, sanctions and economic mismanagement -- RTB Bor is estimated to have piled up $500 million in debts.

Attempts to sell it to Romania's Cuprom and Austria's A-TEC in the last two years failed.

(Reporting by Gordana Filipovic, Editing by Andrew Macdonald) Keywords: SERBIA COPPER/TENDER
 
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