Ongoing Talks with Turkish Tie-in for Bulgaria's Telco Urged

Business | June 24, 2003, Tuesday // 00:00

The ruling of the Supreme Administrative Court, which favours Advent's appeal against the decision of the Supervisory Council of Bulgaria's Privatisation Agency, does not suspend talks with Turkish consortium Koc Holding/ Turk Telekom, said Ahmed Dogan, leader of ruling coalition ally , the predominantly ethnic Turkish Movement for Rights and Freedoms.

Last week a three-member panel of the Supreme Administrative Court overruled the decision of the Supervisory Council to scrap the EUR 210 M sale of a 65-percent stake in the Bulgarian Telecommunications Company BTC to U.S. private equity fund Advent.

It is beyond the competence of the court to rule on the privatisation of BTC, Dogan said, urging that negotiations with the Turkish tie-in are not suspended.

The Supervisory Council of Bulgaria's Privatisation Agency is expected to appeal the ruling of the three-member panel of the Supreme Administrative Court.

According to local media reports the motives of the three-member panel are not strong enough and will be refuted by the five-member panel.

Other reports hinted at a political decision on the issue. A meeting of Prime Minister Simeon Saxe-Coburg and Ahmed Dogan, leader of ruling coalition ally the Movement for Rights and Freedoms, has been scheduled for this week.
Business » Be a reporter: Write and send your article

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria