NEW SELL-OFF PROCEDURE FOR INCOMS-TELECOM OPENED

Business | April 3, 2002, Wednesday // 00:00

The Privatization Agency announced on April 2 a tender for Incoms-Telecom Holding. An announcement for that was published in the State Gazette. 90 percent of the capital of Incoms-Telecom Holding, 40 percent of Incoms-IRET, 29 percent of Incoms-SET of Russe and 40 percent of Incoms-Household Appliances are announced for sale. The deadline for buying tender documents is April 28.The BGN 15 M privatisation of Bulgarian telecoms and electronics equipment supplier Incoms Telecom Holding has Jan. 24 been suspended by the Privatisation Agency. The news broke as it emerged Counter Pressure Casting (CPC), the California-based buyer, had failed to pay the initial 10% instalment required under the terms of the deal. The Supreme Administrative Court is expected to rule on CPC’s complaint against the cancellation of the contract on April 22.

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