Bulgaria Denounces Russian Presidential Elections in Occupied Ukrainian Territories
Bulgaria has taken a firm stance against the recent Russian presidential elections held in the illegally occupied territories of Ukraine
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Moody's has downgraded Telekom Austria's ratings to Baa2 after its recent debt-financed acquisition of mobile spectrum in an auction in Austria.
The rating agency considers that the EUR 1 B acquisition will have a material negative effect on the company's financial ratios.
"We are downgrading Telekom Austria's ratings mainly because its recent debt-financed acquisition of mobile spectrum will have a negative impact on the group's credit metrics," says Carlos Winzer, a Moody's Senior Vice President and lead analyst for Telekom Austria.
"Although Telekom Austria's mobile business will benefit from the additional spectrum, the debt-financed nature of the acquisition increases the group's financial risk beyond the level of tolerance for the previous rating."
The outlook on the ratings is stable.
Telekom Austria shook up last month the senior management of its Bulgarian subsidiary, saying the country is the most difficult market within the group.
“Bulgaria is currently the most difficult market within the Telekom Austria Group. With Thanasis Katsiroubas we were able to recruit an excellent expert on the Bulgarian market and one of the most experienced telecom top managers within the Group for this challenging task," said Hannes Ametsreiter, CEO of the Telekom Austria Group.
Telekom Austria named Thanasis Katsiroubas on September 16 as chief executive of its Mobiltel business in Bulgaria, where the market is locked in fierce competition.
Katsiroubas moves from being CEO of Vip mobile in Serbia to replace Andreas Maierhofer, who did not renew his contract after 10 years working for the group abroad, the company said. Mobiltel marketing head Martin Lippautz was also leaving.
Katsiroubas, 51, has more than two decades of experience in the sector, and has also served as CEO of Mobiltel rival Globul.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Bulgaria is on track to meet the inflation benchmark required for Eurozone membership by September
LinkedIn, the go-to platform for job seekers worldwide, is considering incorporating gaming elements into its services. In a move aimed at enhancing user engagement
Today, just before 8 a.m., the mortal remains of Bulgarian Patriarch Neophyte were laid out for veneration at Patriarchal Cathedral "St. Alexander Nevsky"
Are you looking for inspiration for your next travels? Or perhaps a journey to the most interesting places you see in your favourite movies?
The Bulgarian Parliament has ratified the Agreement between the Government of the Republic of Bulgaria and the Government of the United States on cooperation regarding the construction of nuclear power at the Kozloduy Nuclear Power Plant
Among the many assignments for college students, one of the most popular is an academic paper.
Norwegian Inspiration: Bulgaria's Move Towards Environmentally Friendly Prisons
Nexo Is Suing Bulgaria For Over $3 Billion