Prishtina, 11.09. 2012 - In its meeting convened today, the GPC adopted the bidding package documents for the sale of 75% of PTK shares.
Part of the bidding documents adopted today by the GPC are bidder instructions, draft sale-purchase agreement and the draft-agreement between future PTK shareholders.
Based on these documents adopted by the GPC, prequalified companies are invited to provide their analytical reviews and to take part in the competition for the purchase of 75% of PTK shares.
Prequalified companies participating in this process have to meet formal legal, financial and technical conditions delineated in the bidder instructions, whereas the sole criterion on the basis of which the potential buyer will be selected is the highest price for the sold shares.
GPC has concluded that the Kosovo Post is separated from PTK and is established as a new publicly owned company, which functions as an independent unit. Kosovo Post has inherited all immovable property previously belonging to PTK.
Based on the bidding package, 75% of PTK shares will be sold in respectively two business units Telecom (fixed telephony) and Vala (mobile telephony). On the other hand 25% of PTK shares will remain in state ownership for at least 5 years upon conclusion of the transaction and will be monitored by state representatives in the PTK Board, while all details of this arrangement will be regulated by the sale-purchase agreement.
Pursuant to the bidding package, all current PTK staff will have guaranteed employment for at least the upcoming 3 years, whereas the potential bidder will be obliged to develop the company and improve further services provided to citizens.
GPC remains convinced that PTK privatization will bring positive effects in Kosovos economy in general and in the Kosovo telecommunications market in specific.
GPC encourages interested investors to remain committed to the process and ensures them that the process will continue to adhere to the highest international standards of transparency and will provide equal treatment for all, noting that Republic of Kosovo welcomes all foreign and local investments in the country and that Kosovo laws uphold such investments.