TELECOM’S PRIVATIZATION STRATEGY TO BE SOON VOTED BY THE CABINET

Politics | February 12, 2002, Tuesday // 00:00

The privatisation strategy of the Bulgarian Telecommunication Company has already been sent to the ministers for reviewing, Transport Minister Plamen Petrov announced. At the moment, the auditors from Arthur Andersen check the situation in the company. Consultant Deutsche Bank advised up to 65 % stake in the company to be sold through a two-stage tender without setting minimum price. Most probably the state will keep a “golden share” in BTC so that it can preserve a role in the company's decision making. Any change in the prices of the Bulgarian Telecommunications Company will be made gradually and in a way that will decrease the social effect from it, Boyko Dimitrachkov, the new executive director of the company told the Bulgarian national radio. In the future, the company will seek balance between the social needs and the economic needs of the telecom, he promised. He added that the gradual introduction of digital posts will lead to lay-offs in the company. Dimitrachkov said at his first news conference that he will primarily work for the restructuring of the company, further digitalisation, service quality improvement.
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