PTK final bids deadline pushed back to December

The final bidding deadline for Kosovo’s PTK has been extended by three weeks to 10 December, TelecomFinance has learnt.
The previous date for unconditional bids was 19 November.
A source with direct knowledge of the situation also claimed that some…

The final bidding deadline for Kosovo’s PTK has been extended by three weeks to 10 December, TelecomFinance has learnt.

The previous date for unconditional bids was 19 November.

A source with direct knowledge of the situation also claimed that some parties that were unsuccessful in the prequalification process are now attempting to join consortia that are still in the race for the state’s 75% stake.

Local player Elkos, Geni Capital of Luxembourg, and Monaco Telecom International had submitted applications during the prequalification process but did not qualify for bidding.

In August five interested parties, several of them consortia, had been listed to take part in the tender process.

The bidding parties are Portugal Telecom together with Albright Capital Management, British Telecom-Poland in a consortium with Columbia Capital and ACP Axos Capital, and FT subsidiary Sofrecom together with Twelve Hornbeams and Avicenna Capital.

Turkcell and M1 International are each participating without a partner. All five parties are still in the process, the source added.

It is understood that management presentations had taken longer than expected – four working days for each interested party – and that this was one of the reasons for the decision to push back the deadline. Furthermore, despite the separation of PTK’s postal business, bidders still wanted time to look at those operations to assess potential legacy issues.

The privatisation committee of Kosov is advised by investment banks Lazard and Raiffeisen Investment.