Prishtina, 14 November 2011 – The PTK Government Privatization Committee (GPC) met today to discuss further steps in the preparations of the company for a successful privatization.

Pursuant to its authorizations issued thereto by the Decision of the Assembly and the Government of Kosovo, GPC took a decision to proceed forward with the separation of business unit Post from PTK.

The Decision for the separation of Post from PTK was taken after a thorough analysis of the functioning of telecom and post businesses, and after an analysis of the PTK functioning.

The separation decision was based on the accounting separation report of PTK, recently adopted by GPC, which includes all post business separation details from PTK, such as core and non-core assets, revenues, operational costs, employees, services’ fees, etc.

According to the today’s decision issued by the Government Privatization Committee for PTK, all immovable assets owned by the current PTK will be transferred to the Post of Kosovo, which will be Publicly Owned. As such, Post can generate sufficient incomes in the future to ensure an efficient functioning. In addition, Post will also generate revenues by leasing its buildings, and telecom units will use Post for a number of other services such as distribution, collection and deliveries. Contracts will be signed between Post and the part of PTK, and will remain valid even after telecom business privatization.

Since Post will be able to provide a large number of services for telecom, the Post separation report defines the parameters of such future contracts between the Post and Telecom which are based in the Kosovo and regional markets, according to which Post will have guaranteed a generation of at least € 8.2 million per annum. 
It is important to mention that the approval if such a decision is a fruit of a long joint effort of PTK and GPC and that the full registry of separated assets and staff is developed, provided by PTK. In addition, as the post and telecom business separation was a Government objective, in any option, 2011 resulted with an extensive investment scheme in Post, funded by the corporation in general, and such investments will continue until final separation.

This decision, as soon as the required preparations have been made, will be supported by another Kosovo Government Decision on the future establishment of a new Publicly Owned Enterprise in Kosovo, the core business of which will be postal activities in Kosovo.

This step undertaken by GPC will result with increasing attractiveness of the sale of telecom, implementation of the postal legal framework, and the establishment of a company with an extensively of immovable assets, with a good market and development opportunities for a foreseeable period.