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Intellinews Sees Deal in FinMin Resignation, Bulgaria's Telco Sale
Business | August 19, 2003, Tuesday // 00:00
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The resignation of Finance Minister Milena Velchev might be traded against the deal for 65% of Bulgaria's landline telecom -- Bulgarian Telecommunications Company (BTC). This is what Intellinews analyst Radoslav Krastev said in an interview for Radio Free Europe.
In his opinion, the junior coalition partner, the predominantly ethnic Turkish Movement for Rights and Freedoms, is not indifferent to the issue. It was the political power in the ruling coalition that supported the other bidder in the deal and did not share the motives of Finance Minister Velchev when he announced he is to quit.
Krustev expects one of two possible scenarios to unfold - either will a deal with Vienna-based bidder Viva Ventures be inked and Finance Minister Velchev will quit the Cabinet, or he retains his position in exchange of his support for the Turkish bidder.
A day earlier Viva Ventures said it is appealing before the Supreme Administrative Court the latest decision of the Supervisory Council of the Privatisation Agency to refer the sale documentation to the Executive Board of the agency. Should the court rules that this is not an administrative act, Viva Ventures will seek to defend the tacit agreement rule.
Earlier on Monday it emerged that the privatisation contract with Vienna-based Viva Ventures and the accompanying documents have already been ratified by the state institutions and the buyer.
In his opinion, the junior coalition partner, the predominantly ethnic Turkish Movement for Rights and Freedoms, is not indifferent to the issue. It was the political power in the ruling coalition that supported the other bidder in the deal and did not share the motives of Finance Minister Velchev when he announced he is to quit.
Krustev expects one of two possible scenarios to unfold - either will a deal with Vienna-based bidder Viva Ventures be inked and Finance Minister Velchev will quit the Cabinet, or he retains his position in exchange of his support for the Turkish bidder.
A day earlier Viva Ventures said it is appealing before the Supreme Administrative Court the latest decision of the Supervisory Council of the Privatisation Agency to refer the sale documentation to the Executive Board of the agency. Should the court rules that this is not an administrative act, Viva Ventures will seek to defend the tacit agreement rule.
Earlier on Monday it emerged that the privatisation contract with Vienna-based Viva Ventures and the accompanying documents have already been ratified by the state institutions and the buyer.
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