Kosovo’s PTK escapes €32m fine and honours deal with Z-mobile
Dispute in Kosovo ends after Kosovo Telecom agrees to honour agreement with Z-mobile
Kosovan mobile operator Z-mobile has ensured the survival of he country’s state-owned operator by waiving its right to exert a €32 million fine.
The London Court of International Arbitration in December 2016 told Kosovo Telecom (PTK) to pay the fine after finding in Z-mobile’s favour over breach of contract.
Z-mobile said that PTK had failed to deliver 200,000 SIM cards on time, had not issued additional SIM cards and had refused to offer mobile internet via 3G and 4G.
PTK said in December that the fine would drive it into bankruptcy, and yesterday its CEO, Agron Mustafa, said that Z-mobile had agreed to waive the fine, but he said PTK would pay the court fees and would honour the agreement between the two companies.
“Z-mobile agreed not to implement the arbitration court’s decision,” he told Reuters news agency. “We did not have this money and we had faced bankruptcy.” According to the agency, Z-mobile did not say why it had decided to drop the right to a fine and did not offer comment.
Kosovo is a territory in south-eastern Europe that declared independence from Serbia in 2008.The government of Kosovo has tried to sell PTK, but without success.