EUR 103 M EXPECTED FROM TELECOM PRIVATIZATION

Business | November 16, 2001, Friday // 00:00

The Cabinet expects the revenue from the privatization of the Bulgarian Telecommunications Company (BTC) to total EUR 103 M. BTC privatization is to be completed by the summer of 2002. Deutsche Bank, BTC sale mediator, is to present the terms of the privatization procedure by January 2002. The 2002 privatization program, approved by the Cabinet on November 15, 2001, envisages a package of infrastructure utilities shares to be listed on the Bulgarian Stock Exchange. Under the new the Privatization Act the Cabinet will adopt each year a list of companies that are to be sold for compensatory paper, proposed by the Privatization Agency. The Cabinet is to approve a new bill on compensatory paper trade on November 19, 2001.
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