The Kosovan government will reattempt to privatise incumbent telecommunications company Posta dhe Telekomunikacioni I Kosoves (PTK), Bloomberg has reported.
According to Bloomberg, the sale of up to 75% of PTK is factored into the 2012 state budget,…
The Kosovan government will reattempt to privatise incumbent telecommunications company Posta dhe Telekomunikacioni I Kosoves (PTK), Bloomberg has reported.
According to Bloomberg, the sale of up to 75% of PTK is factored into the 2012 state budget, which plans total spending of €1.52b. Bloomberg cited public broadcaster Radiotelevizioni I Kosoves (RIK) as reporting the sale is expected to take place within the first quarter.
The government cancelled the sale of the Pristina-based company in October when corruption allegations directed at senior management prompted shortlisted bidders, Croatia’s T-Hrvatski Telekom (HTRA) and Telekom Austria, to reconsider their participation in the tender.
The EU Rule of Law Mission (EULEX) accused PTK’s chief executive Shyqyri Haxha and board chairman Rexhe Gjonbalaj of “entering into harmful contracts, abusing official position[s] and misuse of economic authorisations” just two days after HTRA and Telekom Austria were shortlisted as bidders.
The minister of economic development, Besim Bequaj, subsequently told Reuters the government would recommence the privatisation process at a later date as the sale could not progress with only one bidder.
TelecomFinance sources valued the 75% stake in PTK at €300m to €350m shortly after the first sale was announced in September 2010.
Neither the authorities nor PTK were immediately available for comment.