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Koc "Seeks to Partner" Turkish Conglomerate for Bulgaria's Teleco Sale
Business | July 31, 2003, Thursday // 00:00
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Turkish bidder in Bulgaria's telecom sale -- Koc Holding -- proposed to Sabanci Holding, a leading industrial and financial conglomerate in Turkey, to become a partner in the consortium with Turk Telecom for the privatization of the Bulgarian Telecommunications Company (BTC). This is what Turkish Hurriet daily reported on Thursday - two days after a Bulgarian court ruled Koc's competitor back into the deal.
The Bulgarian Privatization Agency is expected to issue a statement on the court decision until August 13. If it fails to do so, silence will mean it agrees to contract previously dumped Viva Ventures.
Koc's competitor backed by US equity fund Advent was first selected preferred buyer but then rejected by the Privatization Agency's Supervisory Council. Following that, Bulgaria's sale body started talks with Koc Holding but was disturbed by a decision of the Supreme Administrative Court in favour of Viva Ventures.
The Bulgarian Privatization Agency is expected to issue a statement on the court decision until August 13. If it fails to do so, silence will mean it agrees to contract previously dumped Viva Ventures.
Koc's competitor backed by US equity fund Advent was first selected preferred buyer but then rejected by the Privatization Agency's Supervisory Council. Following that, Bulgaria's sale body started talks with Koc Holding but was disturbed by a decision of the Supreme Administrative Court in favour of Viva Ventures.
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