Bulgaria's biggest GSM operator Mobiltel announced its revenue was expected to rise to BGN 650 M in 2001 from BGN 402 M the previous year. Executive Director Roumyana Kyuchukova said Mobiltel, whose subscribers more than doubled over the past year to 1.3 million, is expected to have two million subscribers by end-2002, or one fourth of Bulgaria's population, Reuters reported. Kyuchukova, who was talking to reporters at the opening of a new Mobiltel business centre in Sofia, did not give figures on the expected profit for 2001. A Mobiltel official told Reuters the net profit was expected to top BGN 200 M, more than two times higher than the BGN 84 M profit registered in 2000. Kyuchukova said her company planned to invest BGN 300 M in upgrading its network in 2002, higher than the BGN 250 M invested in 2001. Mobiltel is in the process of being acquired by an Austrian consortium. The Austrian consortium comprises Vienna-based Management Trust Holding, a fund of the Taus family, Austria's third biggest bank BAWAG/PSK, financial company Kordt und Partner and a family trust, MC-Privatstiftung. The deal will be done via the purchase of all shares in Rotterdam-based A.M.S. Telecommunication Holding BV, formerly LL Telecommunication Holding BV, which fully-owned Mobiltel.