9. Was is sold cheap?

We firstly have to mention that the price is objective and realistic, compared to the risks assumed by the privatized sector. We have to consider that the sector under privatization is operating on a loss, rather than a profit. Losses reach up to 39 percent. Hence, if 1 euro is invested, 39 cents will be lost for the investor, indicating considerable risks. In addition, we have to also consider issues such as the north of Kosovo, as its network continues to register losses. In addition, compared to regional countries, Kosovo government provides no guarantees for the investor for losses and risks which may occur; hence, we believe that €26.3 million is realistic and objective.