OTE reconsidering GloBul sale

5 Mar 2013

Greek telco OTE may abort the planned sale of GloBul, its Bulgarian unit, according to Sofia News Agency citing company officials. GloBul has recently successfully refinanced its debt, and is now able to meet its obligations this year and next. ‘The problem we had for refinancing mostly has been solved,’ said CEO Michael Tsamaz. ‘The process we have for GloBul has not stopped, it continues. However, we have to rethink the situation […] and decide based on the best of the shareholders’ interest.’ The Bulgarian company accounts for approximately 7% of OTE’s revenues and 9% of its EBITDA.

Bulgaria, Cosmote, Telenor Bulgaria