Consortium enters USD298m bid for PTK

15 Apr 2013

A consortium consisting of Axos Capital and Najafi has entered a bid of EUR227 million (USD297.56 million) for a 75% stake in state-backed incumbent Post and Telecommunications Kosovo (PTK), ahead of a competing offer of EUR150 million from Lebanon’s M1 International, Reuters reports. The consortium also partnered with BT Group, though the UK-based telco said that it did not hold equity in the bid and that its role was to provide advice. Economy minister Besim Beqaj noted that the government will not immediately decide whether to accept the bid. The privatisation of PTK has been far from a smooth ride, however. An earlier attempt to sell a stake in the operator was scuppered by a corruption scandal at the eleventh hour and more recently, prolonged delays and protests have marred the ongoing sale process.

Kosovo, Telecom Kosovo (TK, Vala)