The signing of the contract that will see Kosovo sell its 75% stake in PTK to a consortium of Germany’s Axos Capital and the US’ Najafi Companies for €277m has been postponed until 30 September at the latest.
The government privatisation…
The signing of the contract that will see Kosovo sell its 75% stake in PTK to a consortium of Germany’s Axos Capital and the US’ Najafi Companies for €277m has been postponed until 30 September at the latest.
The government privatisation committee for PTK announced that the consortium, due to sign the contract in mid-August, requested the postponement.
“[The committee] wishes to inform the public that the postponement came as a result of [our] rejection of additional requests posed by the consortium related to the privatization process, which were not part of the bidding package,” the statement read.
The committee added that the extension was granted only after it was ensured that the consortium would sign the share purchase agreement as set out in the bidding documents.
A source close to the matter told TelecomFinance the delay is due to a political issue between the governments of Kosovo and Serbia but did not go into details. However, the privatisation agency and consortium are confident the deal will go ahead and the requisite financing is in place, the source added.
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.
