Pristina receives two bids for 75% stake in PTK

4 Apr 2013

Kosovo has received two bids for a 75% stake in state telco Post and Telecommunication Kosovo (PTK), Reuters reports citing economy minister Besim Beqaj. M1 International Ltd and a consortium of Axos Capital, BT and Najafi – which replaced Columbia Capital in the partnership in January 2013 – submitted bids for the telco. Turkcell, Albright Capital Management and Avicena Capital in partnership with Sofrecom were all previously linked to the sale. Kosovo has delayed the privatisation process several times in order to ‘avoid a rush that might yield low offers’ and to allow potential bidders to line up financial backing from the European Bank for Reconstruction and Development (EBRD) and the International Finance Corporation (IFC). No financial details regarding the offers or when a winner would be announced were revealed, though Beqaj clarified that the decision would be based on the greatest financial offer.

Kosova Press writes that the Trade Union Federation of PTK has reiterated its call for the government to cancel the privatisation. The union raised suspicions of corruption, saying that there were many irregularities in the sale and requested that the next board of directors for PTK be drawn from professional candidates rather than political parties.

Kosovo, Telecom Kosovo (TK, Vala)