Pristina to restart PTK sale in Q1 2012

21 Dec 2011

The Kosovan government will restart its attempt to sell 75% of state-owned telco Post and Telecommunications Kosovo (PTK) in the first quarter of 2012, reports Bloomberg. The previous attempt to sell the company was halted in October this year after corruption charges levelled at the telco’s heads caused the two bidders shortlisted for the stake, Telekom Austria and T-Hrvatski Telekom (T-HT), to reconsider their participation in the tender. In June, just two days after the selection of T-HT and Telekom Austria, PTK’s chief executive and board chairman Shyqyri Haxha and Rexhe Gjonbalaj were accused of ‘entering into harmful contracts, abusing official position[s] and misuse of economic authorisations’ by prosecutors from the EU Rule of Law Mission (EULEX). Pristina previously estimated the value of the 75% stake to be between EUR300 million and EUR600 million (USD391.37 million and USD782.73 million), though the government may have re-evaluated this amount since September 2010, when the first sale was launched.

Kosovo, A1 Telekom Austria Group, Hrvatski Telekom (HT), Telecom Kosovo (TK, Vala)