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US Firm Advent Offers EUR 280 M for 65 % of Bulgaria's Telecom
Business | May 31, 2003, Saturday // 00:00
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US private equity firm Advent International offers EUR 260 M for a 65-percent stake in the Bulgarian Telecommunications Company (BTC), Advent's leadership stated Saturday.
We can even raise our bid up to EUR 280 M and totally revise our offer, Advent leaders said.
The step was made after The Supervisory Council of Bulgaria's Privatisation Agency came out May 7th with a negative decision on the draft contract for the sale of the 65-percent stake in BTC to Vienna-based Viva Ventures which Advent fully owns.
The Supervisory Council recommended that the Executive Council of the sale body review the possibility of launching talks with Turkish consortium Koc Holding/ Turk Telekom, the also-ran bidder for Bulgaria's telecom.
We can even raise our bid up to EUR 280 M and totally revise our offer, Advent leaders said.
The step was made after The Supervisory Council of Bulgaria's Privatisation Agency came out May 7th with a negative decision on the draft contract for the sale of the 65-percent stake in BTC to Vienna-based Viva Ventures which Advent fully owns.
The Supervisory Council recommended that the Executive Council of the sale body review the possibility of launching talks with Turkish consortium Koc Holding/ Turk Telekom, the also-ran bidder for Bulgaria's telecom.
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