Kosovo receives two bids for PTK
04 April 2013 | Mitch Sayers
The Kosovan government has received two bids for a 75% stake in telecoms operator Post and Telecom of Kosovo (PTK).
According to Reuters, PTK, which is majority owned by the Kosovan government, has been the subject of a bid by a consortium of BT, German investment firm ACP Axos Capital and US private equity firm Najafi Companies. It has also received a rival bid from Lebanese M1 International.
With more than one million mobile subscribers, PTK is said to be Kosovo’s most profitable company. The government is reportedly relying on privatising PTK to help fund a new motorway linking the country to neighbouring Macedonia. The Balkan state, however, is said to be planning to retain a 25% stake in PTK for a minimum of five years, and the deal will not include the postal arm of the company.
"When we open the offers the criteria is very simple, the biggest financial offer will win," said Kosovo economy minister Besim Beqaj.
A previous attempt to sell PTK in 2011 failed due to corruption involving senior company officials.