The planned privatisation of Kosovan telco PTK has been delayed further as the nation’s parliament has been unable to reach the quorum needed for the deal to proceed.
A source with knowledge of the matter confirmed local media reports that parliament…
The planned privatisation of Kosovan telco PTK has been delayed further as the nation’s parliament has been unable to reach the quorum needed for the deal to proceed.
A source with knowledge of the matter confirmed local media reports that parliament has had to postpone a meeting to approve the sale of the state’s 75% stake in PTK to a consortium of Germany’s Axos Capital and the US’ Najafi Companies for €277m.
The source said the planned privatisation has created a “massive battle in parliament”, driven by opposition parties’ objection to the process.
However, the source is confident the deal, which had been set to be signed in August, will proceed, noting that the requisite finances are in place. In his view, the deal “must” close by the end of the year.
He did, however, caution that the problems in parliament may act as a deterrent to foreign investors.
This marks the latest in a string of delays throughout the privatisation process. In mid-August, the government privatisation committee for PTK announced that the signing of the agreement would be postponed until 30 September at the latest. The committee said at the time that the buying consortium requested the postponement.
Kosovo has already factored the sale, which it approved in April after a tender process, into the state budget. The country will retain a 25% stake in PTK.
