Telekom Srbija's US lobbying tops $2.5 million in 2026

Telekom Srbija’s Washington representatives reported more than $2.5 million in lobbying revenue linked to the state-controlled Serbian telecom company in the first nine months of 2026, according to an investigation by Raskrikavanje. The figures come as the company prepares to enter the U.S. market and pursues financing and institutional backing for its technology expansion.

Disclosures reviewed by Raskrikavanje show that lobbyists working for Telekom contacted or listed several major U.S. bodies, including the U.S. State Department, Treasury Department, Department of Homeland Security, Export-Import Bank of the United States and the Executive Office of the President.

Telekom Srbija Chief Executive Vladimir Lučić has said the company plans to start offering services in the United States from Dec. 1, using the network of U.S. operator AT&T. He has also said the company expects the necessary authorisation in mid-November.

The planned service is expected to cost about $29 a month. Telekom has said it is targeting around 500,000 customers within three years, mainly among people from Serbia and other Western Balkan countries.

Three firms reported Telekom-related revenue

Raskrikavanje identified three Washington lobbying firms working for Telekom Srbija: Continental Strategy, Valcour and Interlink Capital Strategies.

Continental Strategy reported $841,936 in revenue from the Telekom account in the first nine months of 2026. That included $241,936 in the first quarter and $300,000 in each of the next two quarters. Its filings said the work covered issues such as financing through the U.S. Export-Import Bank and cybersecurity threats.

The filings named Doug McGillivray and Anthony Sola as lobbyists involved, but did not specify which officials were contacted or what Telekom asked for. They also did not show the outcome of the discussions, according to Raskrikavanje.

Valcour reported much larger receipts, with $850,000 in each of the second and third quarters, or $1.7 million in total for those two quarters. Its filings described the work more generally as related to telecommunications and listed the State Department and Treasury Department among the institutions involved.

The firm’s registration for the Telekom engagement took effect on June 17, 2026, but it still reported $850,000 for the second quarter, which ended less than two weeks later. The disclosure did not explain the payment structure.

5G equipment financing is part of the effort

Interlink Capital Strategies has represented Telekom Srbija since 2024. According to the registration documents cited by Raskrikavanje, its work includes helping Telekom seek financing for the purchase of 5G telecommunications equipment, potentially through a U.S. commercial bank with support from the Export-Import Bank.

The filings connect that effort with EXIM programmes aimed at supporting foreign telecom operators buying U.S.-backed equipment and with wider U.S. policy efforts to strengthen competitiveness against China in wireless communications.

Interlink reported $50,000 in Telekom-related revenue in the first quarter of 2024. For the first and second quarters of 2026, it reported less than $5,000 per quarter, without giving exact amounts.

Raskrikavanje said the disclosures suggest a broader commercial strategy than simple political representation. Telekom’s Washington activity appears tied to its planned U.S. market entry, infrastructure financing, cybersecurity issues and attempts to build links with American institutions and technology companies.

The reported figures are based on filings under the U.S. Lobbying Disclosure Act. They show revenue reported by the lobbying firms for representing Telekom Srbija, and may not equal the company’s full spending on advisers, consultants or other representation in the United States.

That means the more than $2.5 million disclosed for the first nine months of 2026 should be treated as a minimum identifiable lobbying figure, rather than necessarily Telekom’s total U.S.-related advisory spending.

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