* Kosovo postpones signing of multi-million-euro deal
* PM Thaci faces opposition from his own ranks
* Failure of sale will hurt Kosovo's investment reputation
By Fatos Bytyci
PRISTINA, Sept 25 (Reuters) - Kosovo on Wednesday postponed the signing of a deal to sell its PTK telecom provider in a political row that threatens to inflict more damage on the country's reputation among foreign investors and could ultimately bring down the government.
The 227 million euro ($306 million) deal requires parliamentary approval but faces resistance from a number of deputies from the ruling coalition of Prime Minister Hashim Thaci, as well as the opposition.
They say the winning bid, submitted in April by a consortium of German ACP Axos Capital Gmbh and U.S.-based investor Najafi Companies, considerably undervalues the company, Kosovo's most profitable.
Analysts say the privatisation is hostage to a power struggle within Thaci's Democratic Party of Kosovo, which has seen him lose a number of votes in parliament in recent months.
Parliament failed to vote last week due to a lack of quorum. Thaci on Wednesday appeared still to be short of the majority his government otherwise holds in the 120-seat assembly.
"Today we have sent a request to the winner to postpone the signature until at least Oct. 21," Economy Minister Fadil Ismalji told Reuters. The latest deadline to sign the deal was Sept. 30.
"The signature will depend on results in the parliament," he said. "The failure of this process would inflict great damage on Kosovo."
An early election, a year ahead of schedule, could complicate efforts by the European Union to steer Kosovo and former master Serbia through a delicate rapprochement and set both on the path to eventual membership of the bloc.
A previous bid to sell PTK in 2010 was the trigger for the fall of the then coalition government. The sale collapsed a year later when several senior managers were charged with corruption, although they were later cleared.
The government had hailed this year's attempt to offload PTK as a major boost to Kosovo's efforts to attract foreign investment, dogged for years by concerns over widespread graft and political interference.
An international telecoms expert close to the sale said its collapse for a second time would be a "disaster" for Kosovo.
"A state cannot start a process and ask participants to spend millions of euros and in the end after the winner is announced claim that this is just a joke," the expert said, speaking on condition of anonymity.
PTK, which competes with a division of Slovenia Telekom, has more than 3,000 employees, 1 million mobile subscribers, another 100,000 landline customers and provides Internet and cable TV services. The sale did not include its postal arm. ($1 = 0.7412 euros) (Editing by Matt Robinson and Alison Williams)