The tender for the sale of the Bulgarian Telecommunications Company will open on April 1, Transport Minister Plamen Petrov projected. The documents for the two-stage competition atre currently being prepared by the working group on the Telecom privatizati
The European Bank for Reconstruction and Development (EBRD) said on Friday it was in talks with OTE Telecoms to provide up to EUR 100 M to back the expansion of the Greek company's Bulgarian unit, Globul, Reuters reported. However, the bank said it was n
By the end of the year there will be “impressive relaxed conditions” for foreign investments in Bulgaria, Prime Minister Saxe-Coburg told businessmen in Vienna during the last day of his visit to Austria. This statement of his was prompted by a question o
The Brady bond swap reduced the net present value of Bulgaria's debt by USD 80 M, and the face value of the debt by USD 270 M, Finance Minister Velchev announced. Finance Minister Milen Velchev said on Friday the swap of Bulgarian Brady bonds for Eurobond
The employees of the Bulgarian Telecommunications Company (BTC) demanded 5% salaries increase in a special declaration, addressed to the Transport Ministry. Many employees from Sofia, Pleven, Stara Zagora and other towns, protested today in front of the c
Orders from investors, amounting to over BGN 2 B, have been received in the Finance Ministry, Finance Minister Milen Velchev told the Bulgarian National radio. The concrete results from the swap will be known after 1.
The opposition’s decision to contest in the Constitutional Court the act which ratifies the contracts on foreign debt restructuring did not reflect negatively on the investors in Europe, Finance Minister Milen Velchev said upon his arrival from London, wh
German-Russian company MAPS (MiG Aircraft Product Support GmbH) was selected by the Defense Ministry as a subcontractor in the project on upgrading Bulgaria’s MiG-29 fighter aircraft. The company did not participate in the tender for upgrading Bulgaria’s
Italian consortium Salgit may be awarded a concession for building two highway stretches in Bulgaria, Deputy Regional Development Minister Ivan Saev said. The proposals on the highway construction, part of pan-European road network, linking Western Europe
The Cabinet decided to increase the state-owned stake in the daughter companies of Balkancar Holding by BGN 4,2 M, Kaloyan Ninov, Deputy Economy Minister, announced. The money will be earmarked from the budget and most of them will be back in the budget w
OTE Telecoms, Greece's largest company, said it was in talks to raise fresh funds to expand its wholly-owned Bulgarian Globul GSM network and denied reports it planned to sell a stake in the company, Reuters reported. "Both OTE and Globul negotiate on the
Justice Minister Anton Stankov will propose investigation to be conducted on the disclosure of a shorthand report in Bulgaria’s daily “Trud” from a closed meeting of the Council of Ministers. The report is connected with the controversial contract with Br
Parliament ratified the sell-off plan of the Bulgarian Telecommunications Company on March 21. The privatization strategy was approved with 103 votes in favor, 89 votes against and one abstention.
Investors looked over a menu of new sovereign bond deals being offered by Bulgaria, Uruguay and Chile, while emerging market debt prices slumped March 20, Reuters reported. After rising more than 6.
Banks and big businesses will remain the main sources of revenue for the Information Technology sector in 2002, Dnevnik Daily reported, citing analysis of Bulgarian-registered CBN Company. Sales to small private banks are expected to shrink due to tax hik
The Bulgarian foreign debt swap auction was launched at 1100 GMT March 21. The whole procedure of accepting orders lasts eight hours, the results will be known on Saturday the latest.
British-based fund Charlemagne Capital may take part in a planned privatisation of Bulgaria's state telecom Bulgarian Telecommunication Company (BTC) in a consortium with a telecom company, Reuters reported, citing a source from the fund. Charlemagne Capi
The Bulgarian Cabinet has still a lot to do to improve the business climate in the country and create favorable conditions for foreign investors, German Ambassador Ursula Seiler-Albring said in the town of Shumen. In her opinion the German investors still
The parliamentary group of the United Democratic Forces decided to contest in the Constitutional Court the act which ratified the contracts on foreign debt restructuring. According to them, the concrete parameters on the deal, the number of eurobonds to b
The privatization procedures of Bulgaria’s tobacco monopoly Bulgartabac and the Bulgarian Telecommunications Company (BTC) are to be opened on Monday, Apostol Apostolov, CEO of the Privatization Agency said. The two key sell-offs could start only after th
Bulgarian Brady debt posted more gains March 19 in the run-up to Bulgaria’s exchange into dollar and euro denominated debt, Reuters reported. Its discount bonds added 1/8 to 92-1/4 and the Interest Arrears Bonds 3/8 to 88-1/2.
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