Telekom Austria AG hasn’t submitted a new bid for Telekom Srbija AD, the Austrian compa- ny and the Serbian government said yesterday, refuting a media report that the two parties had negotiated a price for a smaller-than-expected stake. “Speculation that appeared in certain media that 30 percent of Telekom Srbija was sold to Telekom Austria for 840 million euros [$1.25 billion] is absolutely not correct,” the Serbian government said in a statement, referring to an unattributed report by Belgrade-based B92 broadcaster. As the majority owner of Telekom Srbija, Serbia has asked for at least 1.4 billion euros in cash for a 51 percent stake of the national provider of landline, mobile phone, Internet and multimedia services. Telekom Austria has until 2 p.m. local time tomorrow to reconsider its standing offer of 950 million euros in cash and 450 million euros in investments for the majority stake. Telekom Austria has made no new offer, said spokeswoman Elisabeth Mattes. The government in Belgrade reiterated its asking price yesterday. Serbian opposition groups demanded a criminal probe last week against Prime Minister Mirko Cvetkovic and several others for allegedly mishandling the Telekom tender. Cvetkovic rejected the criticism, as well as claims that the company was offered below its value. Citigroup Inc advisers have valued the entire company at 2.43 billion euros. Twenty percent of the company belongs to Greece’s Hellenic Telecommunications Organization (OTE).