13.08.2013 – The Government Privatization Committee for PTK convened today to analyze the current developments in the project and steps to be undertaken further in relation to the privatization of 75% of PTK shares.

As the public was informed earlier, today was the date envisaged for the execution of PTK privatization agreement. However, at the request of the consortium of companies declared preferred bidder for the privatization of PTK, contract execution shall be postponed to no later than 30 September 2013.

This GPC decision is applicable with the condition that the selected consortium presents all other warranties and conditions required in the transaction documents.

GPC wishes to inform the public that the postponement came as a result of GPC’s rejection of additional requests posed by the consortium related to the privatization process, which were not part of the bidding package.

This postponement was approved only after GPC was ensured that the winning consortium will sign the share purchase agreement in the form and content provided in the bidding documents.

GPC has treated this process with the greatest seriousness and the consortium declared as the winning bidder once again confirmed that such approach will be pursued until the process is closed. Noteworthy, the process was since its inception compliant with Kosovo laws and the highest international standards, and the Government Privatization Committee for PTK will continue to take decisions that are in the interest of Kosovo citizens.

Taking into account the complexity and significance of this transaction, it was considered that the provision of additional time for contract execution by the consortium of companies declared winning bidders is in Kosovo’s best interest.

At the same time, the GPC wishes to express its sincere gratitude to the diplomatic corps accredited in Prishtina for the support provided throughout this process of great significance for the country.