Bulgarian Telecom Companies Announce Price Hike in Response to Inflation
Bulgarian telecommunications companies are set to implement price increases this year, citing the impact of inflation
Assets of Telekom Austria into Mobiltel, considered to be Bulgaria's largest telecom, were re-evaluated and written down by EUR 400 M, according to the Austrian company.
Telekom Austria, which owns Mtel, cited losses at the Bulgarian company as a reason for the step.
Rising capital costs for the Austrian company and Bulgaria's dwindling telecom market are causing the situation to deteriorate, the Austrian venture found out after conducting regular sensitivity analyses which shows the potential impact of variables on the economic output.
The situation in Ukraine also played a negative role in Bulgaria's performance, the company's experts believe.
They also say Brussels' constant push to lower prices of telecom services is also leading to a downtrend.
All of the three major Bulgarian telecoms pointed the same reasons to explain the slowed-down pace of growth in their annual reports, according to wesbite money.bg.
However, Telekom Austria assured the EUR 0.05 dividend per Mtel asset is to remain unaltered.
Mtel's assets amounted to BGN 2.4 M (EUR 1.2 M) in 2013.
But a spokesman for Telekom Austria said book value of its Bulgarian subsidiary would be EUR 680 M after the move.
We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!
FlixBus, the renowned European bus company, is set to launch new routes to and from Bulgaria in anticipation of the summer season
In a significant development, the Russian army has seized control of the pivotal village of Ocheretyne in the Donetsk region of Ukraine, a strategic location crucial for Ukrainian defense efforts
The price of retail lamb in Bulgaria has surged by 8.4% on an annual basis, according to statistics released by the Ministry of Agriculture and Food, with data sourced from SAPI indicating an average price of BGN 25.27 per kilogram as of April 10
In a concerning revelation, the ad hoc committee investigating the activities of Gleb Myshin uncovered that over the past three to four years, a staggering 343 candidates from the Russian Federation seeking Bulgarian citizenship were discovered to have su
As the summer season draws near, the issue of staffing in the tourism sector in Bulgaria comes to the forefront once again, with the workforce having to depend on individuals from foreign countries for yet another year
According to recent data from the Confederation of Independent Trade Unions of Bulgaria (CITUB), the financial strain on Bulgarian households continues to intensify
UN Happiness Report: Bulgaria's Astonishing Leap in Rankings
Bulgaria: 3 Regions With Lowest Life Expectancy - EU Report 2022