Bulgarian Telecom Companies Announce Price Hike in Response to Inflation
Bulgarian telecommunications companies are set to implement price increases this year, citing the impact of inflation
Assets of Telekom Austria into Mobiltel, considered to be Bulgaria's largest telecom, were re-evaluated and written down by EUR 400 M, according to the Austrian company.
Telekom Austria, which owns Mtel, cited losses at the Bulgarian company as a reason for the step.
Rising capital costs for the Austrian company and Bulgaria's dwindling telecom market are causing the situation to deteriorate, the Austrian venture found out after conducting regular sensitivity analyses which shows the potential impact of variables on the economic output.
The situation in Ukraine also played a negative role in Bulgaria's performance, the company's experts believe.
They also say Brussels' constant push to lower prices of telecom services is also leading to a downtrend.
All of the three major Bulgarian telecoms pointed the same reasons to explain the slowed-down pace of growth in their annual reports, according to wesbite money.bg.
However, Telekom Austria assured the EUR 0.05 dividend per Mtel asset is to remain unaltered.
Mtel's assets amounted to BGN 2.4 M (EUR 1.2 M) in 2013.
But a spokesman for Telekom Austria said book value of its Bulgarian subsidiary would be EUR 680 M after the move.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
Fitch Ratings, a leading credit rating agency, has affirmed Bulgaria's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a Positive Outlook
Eurostat's latest findings have shed light on the shifting landscape of household energy prices in the European Union, with Bulgaria emerging as a frontrunner in affordability.
The National Statistical Institute reports that in 2023, the poverty line for the entire country stood at 637.92 BGN per person per month within households
Along the Southern Black Sea coast, preparations are in full swing for a successful and peaceful summer season, as confirmed by Minister of Tourism Evtim Miloshev following discussions with local authorities and control institutions
As summer approaches, Bulgaria's seaside tourism industry faces a daunting challenge as hotels may remain shuttered due to a severe shortage of staff
The real estate sector in Sofia has shown resilience in the face of ongoing pandemic challenges, maintaining stability across all segments in the first quarter of the year
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022