US COMPANY PURCHASED 75% OF INCOMS TELECOM HOLDING

Business | December 13, 2001, Thursday // 00:00

The Privatisation Agency /PA/ sold to the US C.P.C. company a 75% stake from Incoms Telecom Holding, 32% of the capital of the Incoms Radioelectronics Institute, 23% in the Rousse-based Incoms Electron Technology and Systems and 32% in the Incoms Household Techology. The foreign buyer is obliged to invest BGN 9 M in the next three years, to increase the number of jobs to 1000 from the current 950 and to preserve the type of activity. BGN 1 M or 6.67% of the whole price, will be installed in a special account to compensate the buyer for any unexpected debts of the holding which has been unknown on the day of signing the contract.

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