Houthi Attack on Greek Cargo Ship Near Aden, Fatalities Confirmed
A Greek cargo vessel was struck by a missile and set ablaze near Yemen's city of Aden
HOT: » Assessing the Legacy of Bulgaria's "Denkov" Cabinet: Achievements, Failures, and What Comes Next
Greek telecom OTE announced Thursday that the deal for the sale of Bulgaria's Globul to Norwegian telecoms firm Telenor ASA has been officially concluded.
The information is cited by the Greek "Ethnos" and Bulgarian media.
The transfer of ownership has been carried out in full after it has been approved by the competent authorities.
The sale was agreed on on April 26, 2013.
The sale's price is EUR 717 M on cash and debt free basis.
Globul is Bulgaria's second-biggest mobile telephony operator. It has an estimated 4.6 million customers and revenues in the amount of EUR 377.6 M in 2012.
Globul accounts for about 7% of OTE's sales and about 9% of earnings before interest, tax, depreciation and amortization (EBITDA).
In Bulgaria, Globul competes with Telekom Austria Mobiltel and Vivacom, recently acquired by Bulgarian banker Tsvetan Vasilev, and Russia's VTB Bank.
Telenor is on the markets of Hungary, Serbia and Monte Negro.
At the end of April, Kjell-Morten Johnsen, Executive Vice-President and Head of region Europe, as cited by Capital daily, made clear that the new management would assume control over the mobile operator in Q3, 2013, with plans to make network investments, reduce operating costs, and offer bundle services.
It was announced at the beginning of July that Stein Erik Vellan will be named CEO of Globul.
Stein-Erik Vellan is currently head of mobile at Telenor Norway and previously served as CEO of Telenor Serbia and managing director at the company's Indian unit Uninor.
The impact of the change of ownership of the mobile operator for subscribers is yet unclear, the only certain change being that price-setting will be increasingly driven by data traffic and less by voice transmission, a growing trend all over Europe, Capital Daily informed.
The issue of a name change of the mobile operator remains on the backburner at this stage, as does a potential renting of new frequency ranges from the state.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
As Bulgaria inches closer to joining the Eurozone, concerns arise over the implementation of rounded prices in euros, potentially impacting citizens' wallets upon adoption of the single currency
On a briefing held at the National Press Club of BTA, Nikola Ilchev, the creator and organizer of the Balkan eCommerce Summit, showed projections indicating a significant rise in Bulgaria's e-commerce sector
Svetoslav Stanulov, chairman of the Association of Bulgarian Airlines (ABA), has emphasized the need to assess Sofia Airport's potential as a hub for transit and transfer flights
Pegasus Airlines is set to recommence its scheduled flights between Sofia and Istanbul, marking a significant milestone in air travel connectivity between Bulgaria and Turkey
Bulgaria has witnessed a remarkable surge in home loans at the beginning of the year, with loans for households for the purchase of houses and apartments reaching a record high of BGN 20.52 billion by the end of February
The Ministry of Finance in Bulgaria has revealed that the process to facilitate the exchange of levs with euros in the country will come with a hefty price tag, estimated to be at least BGN 500 million
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022