Rosbulgartabac Rules out Exit from Bulgaria's Tobacco Monopoly Deal

Business | December 17, 2002, Tuesday // 00:00

Rosbulgartabac will continue its participation in the privatisation procedure for 80% stake in state-owned company Bulgartabac Holding, Tihomir Trendafilov, representative of the consortium told local Darik Radio. The comment comes a day after a five-member panel of the Supreme Administrative Court confirmed the decision of the three-member panel, which stripped the preferred buyer for Bulgaria's tobacco monopoly, the consortium Tobacco Capital Partners and Clar Inns, of its status. Trendafilov ruled out the option of terminating the current competition, which is expected to end in two months. In the final ranking announced at the end of August Rosbulgartak garnered 82,02 points, tailing after Deutsche-bank backed consortium of Tobacco Capital Partners and Clar Innis B.V. (98,15 points) and Tobacco Holding (1,63 points).

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