EVN To Sue Bulgaria For EUR 1 B

Business » ENERGY | March 25, 2014, Tuesday // 13:07| Views: 1482 | Comments: 3
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Bulgaria: EVN To Sue Bulgaria For EUR 1 B File photo

The electricity distributing company EVN has hired an international lawyer and plans to sue Bulgaria for EUR 1 B if its business is nationalized. 

According to reports in the Austrian daily Kurier, quoted by Bulgaria's daily 24 Chasa, the company has paid EUR 270 M for its license and has invested more than EUR 600 M. 

According to reports in other Bulgarian-language dailies, last week Bulgaria's President Rosen Plevneliev had a meeting in Vienna with EVN's chairman of the board Stefan Siskovic.

Meanwhile, EVN Bulgaria said they would seek from the National Electricity Company (NEK) EUR 250 M  and reminded that there is already a court case against Bulgaria for breach of contract with Austrian for encouraging investments.

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Tags: EVN, NEK, Rosen Plevneliev
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» To the forumComments (3)
Dogfish - 26 Mar 2014 // 17:37:03

Or anywhere else...

Behemoth2.0 - 26 Mar 2014 // 15:02:51

Loyalty? You must be kidding - show me one Bulgarian company that is "loyal" to its costumers.

Fr Jack Hackett - 26 Mar 2014 // 14:26:13

This is what you get when you sell off public utilities cheaply to foreigners who feel no loyalty to the local population