The Serbian government has given the sole bidder in its Telekom Srbjia sell-off 15 days to improve its offer. A fortnight ago, it emerged that Telekom Austria AG’s offer of €800-950m for the mostly-state-owned telco was the only bid received. The Serbian government, which owns 80 per cent of the telco, was hoping to attract offers in excess of €1.4bn for a 51 per cent stake in the company.