Istref: It is impossible to pay 25m euros, if Telekom goes bankrupt, the consequences will be huge.

After winning the case in court, the Z-Mobile company has launched completion procedures, meaning closing Kosovo Telekom's bank accounts to the disposal of assets or debts of over 25m euros.

Kosovo Telekom Chief Executive Chief Bedri Istrefi, in a conversation for Radio Free Europe, announced that they have been announced by the Z-Mobile company that has initiated completion procedures, but, according to him, in the situation in which Telekom is in, the chances are minimal to conduct a transaction of over 25m euros.

He says he has demanded that this payment be made in installments of 300 thousand euros a month, with the possibility of raising the value, which was not accepted by Z-Mobile Company.

We are in the phase of confidential negotiations with Z-Mobile Company. I can say it's a hasty decision by Z-Mobile company, as it risks closing Telekom's total account and endangers 300 thousand of their consumers. We are working and I believe that in the coming days in the process we will develop, good days will come for Telekom”, Istrefi says.

Kosovo Telecom and Z-Mobile company have consistently had disagreements over a contract signed 10 years ago, which had enabled Z-Mobile Company to be the virtual mobile operator Vala.

The differences between the parties had begun when Z-Mobile requested additional numeration. The case had gone to Arbitrazh and later the Court of Pristina had decided in favour of Z-Mobile Company.

Meanwhile, for the damage caused, Telekom was obliged to give additional Z-Mobile numeration, offer 3G and 4G services, and pay a fine of over 25m euros in the name of payback of damage, lost profit and expenses of arbitrage procedure.

At Z-Mobile, meanwhile, they are not declared about this dispute.

Bedri Istrefi says the consequences will be huge in the event of Kosovo Telekom's bankruptcy and that, according to him, Telekom has committed international legal experts to the issue and that bankruptcy, according to him, will not happen.

There's no way it's going to come to close Telekom's bank accounts. We have received foreign legal experts who will protect Kosovo Telekom in this case and the current laws that are in force do not allow such a thing”, Istrefi says.

It requires the Government of Kosovo, which is a 100 per cent shareholder of Kosovo Telecom, to mobilise and to pay particular attention to the issue.

However, Kosovo Prime Minister Ramush Haradinaj has consistently declared that the Kosovo government will not pay off the debt of Kosovo Telecom and that it has asked the company's leaders to find solutions.

Meanwhile, a day earlier questioned by reporters in the case of completion procedures, Haradinaj has stressed that debt is difficult to avoid and that until now opportunities have had to be exploited.

On the other hand, Lamih Balaj, chairman of the Kosovo Post and Telecom Union, says workers are concerned about the situation created and that quick solutions are required.

The government in no way dares withdraw from this issue, since it is the shareholder of Kosovo Telecom. It's unacceptable if someone tries to block public company accounts. There will be social consequences. Kosovo institutions must solve this problem”, Balaj says.

Kosovo's telecom is a public company transformed into a stock society, in which the fixed phone and mobile Vala operate. Operator Vala has over 1.2 million consumers at the country level.

The company has approximately 2400 employees, while the average salary is estimated to be over 730 euros. / REL