BTC sale takes another turn

4 Jul 2003

Bulgaria’s National Privatisation Agency will meet today to discuss its next move following a Supreme Administrative Court’s decision to overturn the Agency’s move to block the sale of a 65% stake in the Bulgarian Telecommunications Company (BTC). The stake is expected to be sold to US private equity firm Advent International for EUR210 million. Advent had appealed against the Agency’s decision to scrap the sale on the grounds that a draft contract for the sale had already been signed.