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Bulgarian operator BTC up for sale
07 November 2011
Creditors appoint Morgan Stanley to sell off Bulgaria’s debt-laden incumbent BTC
Bulgarian Telecommunication Company, which is owned by a private equity consortium represented by PineBridge Investments, has again been put up for sale. The firm’s creditors have appointed Morgan Stanley as consultant as they look to offload the debt-laden operator, according to Capital Daily.
A similar sale had been commenced earlier, but was blocked due to disputes between shareholders and owners. Oger Telecom has expressed interest in BTC. Oger was close to an agreement to buy BTC the last time it was on sale. Investors have until November 30, to express their interest to the deal.
According to Capital Daily, the ownership change will require approval from the financial regulator, as BTC trades on the Bulgarian Stock Exchange. GTB
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