Court's Decision on Scrapped BTC Deal Announced June 5th

Business | June 1, 2003, Sunday // 00:00

Bulgaria's Supreme Administrative Court should announce June 5th its decision about the scrapped sale of a 65-percent stake of Bulgarian Telecommunications Company (BTC) to US firm Advent.

We believe that our offer is the most favorable and intend to win the tender, US private equity firm Advent's director Chris Mruck said Sunday. Mruck believes that the BTC privatization deal will be closed immediately after the decision of Bulgaria's Supreme Court is announced.

The firm's leadership lodged the complaint after the sale of the 65-percent stake in BTC to Advent was scrapped by The Supervisory Council of Bulgaria's Privatisation Agency May 7th.
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