BTC affair rattles on

4 Jun 2003

The on again, off again privatisation of BTC has taken a new turn with the announcement that first choice bidder Advent has upped its offer from EUR210 million to EUR260 million. It is also reported to have offered to pay the government a percentage of BTC’s annual profit. Advent’s revised offer comes days after the Sofia administration launched talks with the second choice bidder, a consortium backed by Koc Holding and Turk Telecom.