German investment company ACP Axos Capital is seeking up to EUR 400 million in compensation in an international arbitration court after it was thwarted in an attempt to buy Kosovo Telecom in 2013, reports Reuters.
Kosovo’s parliament blocked the planned sale of Kosovo Telecom to ACP Axos Capital for EUR 277 million in 2013.
Prime Minister Isa Mustafa’s government said it would contest the claim, but declined to give details.
Once valued at EUR 1 billion, Kosovo Telecom saw net profit in 2015 drop 63 percent to EUR 6 million. Trade Minister Hykmete Bajrami has said it is now a loss-making company.