The Kosovo privatisation committee has named a consortium comprising Germany’s Axos Capital and US-based Nafaji Companies as the highest bidder for the privatisation of PTK.
During a live broadcast today, it was revealed that Axos offered €277m for…
The Kosovo privatisation committee has named a consortium comprising Germany’s Axos Capital and US-based Nafaji Companies as the highest bidder for the privatisation of PTK.
During a live broadcast today, it was revealed that Axos offered €277m for 75% of the state-owned Kosovar telco, and asked for a guarantee of €35m in cash on the company’s balance sheet at closing.
The other bidder, Lebanese M1, offered €150m.
Advisers on the PTK privatisation are Lazard and Raiffeisen.
It is now expected that the government will decide within the coming weeks whether it will officially designate the Axos consortium as the winning bidder for the PTK privatisation. Closing of the deal could take a few months.
The sale of a 75% stake in PTK was launched in spring last year and the deadline for bids was extended several times.
Initially, eight parties expressed interest and five were allowed to participate in the tender process. But when offers were finally due, in early April, only two were submitted.
An earlier privatisation attempt was cancelled in late 2011.
