PTK: Gov’t extends bidding deadline to January

The bidding deadline for the privatisation of Kosovo’s telecoms operator PTK has been extended until 2013.
The government privatisation committee of Kosovo decided at its meeting yesterday to push back the deadline to 15 January.
As reported…

The bidding deadline for the privatisation of Kosovo’s telecoms operator PTK has been extended until 2013.

The government privatisation committee of Kosovo decided at its meeting yesterday to push back the deadline to 15 January.

As reported previously by TelecomFinance, the deadline for binding bids had been pushed back once already, from mid November to 10 December.

At yesterday’s meeting the committee also formally allowed Citi Venture Capital International (CVCI) to join the bidder consortium of Avicenna Capital and Twelve Hornbeams, according to a source.

The source also said that the European Bank for Reconstruction and Development (EBRD) has already begun talks about possible participation in the process to support the eventual buyer. He confirmed that the EBRD could make an equity investment or help with the debt financing, adding that the latter was more likely.

As reported earlier his week, the sell-side has welcomed Kosovo’s admission to the EBRD as its latest member last week, as it believes an investment by the state controlled bank could reassure potential buyers and reduce political risk.

The source also confirmed that all five bidding parties that were admitted to the process back in August are still in the race.

Alongside the Twelve Hornbeams/Avicenna Capital/CVCI consortium the other bidders are Portugal Telecom together with Albright Capital Management, and British Telecom-Poland in a consortium with Columbia Capital and ACP Axos Capital.

Turkcell and M1 International are both participating without a partner.

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