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Serbia to challenge Kosovo’s Telecom sale

Serbia said it will challenge Kosovo’s attempt to sell Posta dhe Telekomunikacioni i Kosoves Sh.A. (PTK) phone company, claiming ownership over assets created before Kosovo’s 2008 secession from the Balkan nation. Serbia, which refuses to recognize the breakaway province as a state, reacted to Kosovo’s announcement that it got a €277 million ($365 million) offer for a 75% stake in the landline and mobile services provider PTK from ACP Axos Capital GmbH from Germany and Phoenix, Arizona-based Najafi Cos LLC allied with BT Group Plc. The sale is conducted by “illegal bodies, without authorization or participation by the actual owner,” Serbia’s Office for Kosovo and Metohija said. It said the assets belong to Belgrade-based, state-owned Telekom Srbija AD, the Serb monopoly until the 1998-99 war over Kosovo, and warned about “legal consequences” if the assets are divested.