EVN To Sue Bulgaria For EUR 1 B
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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