PRNewswire writes that ACP Axos Capital consortium, working with its European and US investors, has been selected as the winning bidder for a 75% stake in Kosovo’s incumbent operator Post and Telecommunications of Kosovo (PTK). The results of the bidding process were announced on 18 April by the government’s privatisation committee, and will see the consortium pay EUR277 million USD million) for the equity stake on offer.
It is understood that ACP Axos Capital is cooperating with a number of financing groups, including the European Bank for Reconstruction and Development (EBRD) and Deutsche Investitions-und Entwicklungsgesellschaft (DEG), which have expressed ‘interest in supporting this important privatisation project. BT Group and Telecom Italia provided advisory services to the consortium, it added.
Under the privatisation plan, PTK’s headquarters will remain in Pristina and it will maintain its own corporate status. ‘All core business and operational functions will continue to be directed from Kosovo. The consortium’s investments in PTK will create infrastructure development and employment opportunities for Kosovo citizens. As PTK evolves into a market driven competitive business, PTK customers will be excited to take advantage of an increased product portfolio, improved fixed and mobile broadband and voice options, international connectivity and Kosovo’s own telephone code, faster speeds, better rates, and significant upgrades to the quality of service,’ the report read.