Bulgaria and the Euro: What Happens to National Monetary Sovereignty?
One of the most debated topics around Bulgaria’s upcoming transition from the lev to the euro is whether the country is giving up its sovereignty
The Bulgarian businessman Spas Rusev has reportedly acquired the leading Bulgarian telecommunications company Vivacom after a bidding, which lasted for nearly sixteen hours.
According to media reports, he won the auction by offering EUR 330 M, Darik radio reports.
The other bidder was the Greek businessman Panos Germanos, who is owner of the Olympia Group.
The two bidders were placed in separate rooms in London.
Some reports have suggested that there was a third participant in the auction - Third Point hedge fund.
VTB Capital, the business arm of the Russian VTB Bank, declared Vivacom for sale after shareholders defaulted on EUR 150 M bridge loan.
The Bulgarian Deposit Insurance Fund is closely monitoring the auction as it will try to get back EUR 150 M in assets which are believed to be the funds of depositors at the insolvent Corporate Commercial Bank (KTB).
A large part of the Bulgarian business sector is well-prepared for the euro changeover
Since the start of 2024, Bulgaria has issued 24,000 work permits to foreign nationals, marking a significant increase compared to previous years
Vasil Levski Sofia Airport has earned top honors in Europe, receiving the prestigious ACI EUROPE award for “Best Airport in Europe” in the category serving between 5 and 10 million passengers
Wizz Air has launched direct flights between Sofia and the Italian coastal gem of Alghero,
The Bulgarian property market appears to be cooling off in the major urban centers
A new factory built with Czech investment officially opened its doors in Plovdiv
Borderless Bulgaria: How Schengen Benefits Are Transforming Trade and Logistics
Bulgaria's Mortality Rate Remains Highest in Europe