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Bulgartabac: Contraband Cigarettes Account for 15-20% of Bulgarian Market

Business | May 28, 2008, Wednesday // 00:00

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Bulgaria: Bulgartabac: Contraband Cigarettes Account for 15-20% of Bulgarian Market

Contraband cigarettes account for 15-20 percent of the market in Bulgaria, executive director of cigarette-making monopoly Bulgartabac, Anguel Dimitrov, said. Photo by Yuliana Nikolova (Sofia Photo Agency)

Contraband cigarettes account for 15-20 percent of the market in Bulgaria, executive director of cigarette-making monopoly Bulgartabac, Anguel Dimitrov, announced Wednesday.

Mr Dimitrov added that Bulgartabac currently holds 62-63 percent of the cigarette market in the country but said that contraband usually increases in cases of price hikes.

Bulgartabac is currently going through a process of optimisation and restructuring, which will allow the company to keep its market share, Dimitrov told reporters.

On Tuesday, it was announced that privatisation of tobacco factories in Plovdiv and Stara Zagora through the Stock Exchange is expected in the beginning of July, which is the deadline for the Supervising Board of "Bulgartabac Holding" to approve the entire documentation for the procedure.

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