ACP Axos Capital GmbH Consortium to Acquire 75% of PTK, the Incumbent Telecom Operator in the Republic of Kosovo, for EUR 277 Million
HAMBURG, Germany, April 23, 2013 /PRNewswire/ --
ACP Axos Capital GmbH Consortium with its European and US investors has been declared the winner of the privatization process conducted by the Government of the Republic of Kosovo for 75% of the shares of Post and Telecommunications of Kosovo J. S. C. (PTK). The results of the bidding process were announced on April 18 by the Government Privatization Committee of Kosovo.
ACP Axos Capital is cooperating with International Financial Institutions, including the European Bank for Reconstruction and Development (EBRD), and Deutsche Investitions- und Entwicklungsgesellschaft (DEG) who have expressed high interest in supporting this important privatization project. BT Group and Telecom Italia provide advisory services to the consortium.
Headquarters will remain in Pristina and PTK will maintain its own corporate status. All core business and operational functions will continue to be directed from Kosovo. The consortium's investments in PTK will create infrastructure development and employment opportunities for Kosovo citizens. As PTK evolves into a market driven competitive business, PTK customers will be excited to take advantage of an increased product portfolio, improved fixed and mobile broadband and voice options, international connectivity and Kosovo's own telephone code, faster speeds, better rates, and significant upgrades to the quality of service.
"The PTK privatization process will be watched with interest by Western investors" said ACP Axos Capital Managing Director Jan Budden. "We are taking the lead in what we expect to be many further investments of capital from Western Europe and the US in Kosovo's economic growth. Our goal is to make Kosovo an integral member of the global communication society. We are thrilled to have BT and TI, two of the most accomplished telecom operators on the international stage, as advisors to the consortium."
In a joint declaration the embassies commented: "By confirming the offer of ACP Axos Capital GmbH for Post and Telecommunications of Kosovo (PTK), the government of Kosovo has undertaken an important step towards strengthening its economic development."
"This privatization aims to send a signal to serious international investors, informing them on Kosovo's economic sustainability and favorable business environment," says the Ministry of Economic Development of the Republic of Kosovo. "It is the most important step in the road to modernizing our society."
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SOURCE ACP Axos Capital GmbH