Prishtina, 03 April 2013 – The Chairman of the Government Privatization Committee for PTK and Minister of Economic Development, Besim Beqaj, informed that two bids were received in relation to the privatization of 75% of PTK shares, adding that part of the bidding process are M1 International and Axos GMBH in consortium with Najafi Companies.

Beqaj made the said comments during a press conference held after the conclusion of the GPC meeting, underlining that the bid admission committee composed of officials from MED, MI, MTI, MLSW and MF received two bids that met legal requirements, as confirmed by the transaction advisors.

Head of MED said that the transaction advisors, Lazard and Raiffeisen, and strategic advisors have confirmed that to date all procedures were carried out in conformity with the legal and regulatory framework applicable for the tendering process, while underscoring that GPC has established an evaluation committee that includes a similar institutional composition with the bid admission committee.

“This committee, along with the Project Implementation Unit and transaction advisors, which are bound to evaluate the process, will produce their recommendations as soon as possible, and based on those recommendations we will take the decision regarding the opening of financial bids,” said Beqaj.

He said that the opening of financial bids will be conducted in a public manner, similarly with previous transactions, while the criteria are simple – the highest financial bid wins. This because the process was regulated and designed so as to analyze all technical conditions at the moment of the companies’ prequalification.

“At the bid opening moment, in accordance with regular procedures, the Committee will take a decision based on the financial bid and will suggest to the Government the following steps, so the final decision will be taken by the Government, as per the financial bid provided,” said Minister Beqaj.

GPC Chairman assessed that the process was extremely transparent, open and complied with the highest international standards, as confirmed with the decisions taken to date.

“We have treated this project with utmost priority. I believe that this process of structural reform will be beneficial for Kosovo’s economy, because that enterprises speaking of will continue to remain Kosovo companies, employ Kosovo citizens, pay taxes and provide better services for citizens, which we consider that this represents a direct contribution to the long-term economic sustainability of the Republic of Kosovo”, he said.

In relation to the companies competing in the process, Minister Beqaj said that according to information available to date, they have sufficient financial power and strong management teams, bearing in mind the presence of British Telecom and harmonization with Telecom Italia.

He added that no complaints were made in the process, while adding that the companies enjoyed equal status in the competition and will enjoy similar equality in the opening of financial bids, while the bids will be held in a room that is under 24-hour video surveillance and secured by police.

For his part, Nenad Rasic, Minister of Labor and Social Welfare, said that this is an important moment for PTK’s development, with a significant social element, since all relevant staff will have guaranteed employment for a three-year period, which represents a great success for the company.

Speaking on behalf of the transaction advisors, Christophe Gehin welcomed the fact that two bids were received for the privatization of 75% of PTK shares. “Although faced with a hostile environment, the economic process of PTK privatization managed to attract two serious bidders, and we managed to maintain the competitive factor in this competition, owing to the two conferences we organized in London and Istanbul,” he said.

On the other hand, Fehmi Mujota, Minister of Infrastructure, emphasized the importance of the conclusion of this part of the process, deemed the most significant part, while praising GPC, the transaction advisor and strategic advisor for their work and hoping that the process will yield with a successful awardee.