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OTE may sell Bulgaria’s Globul
26 June 2012
Deutsche Telekom-controlled OTE plans to refinance €3.4bn debt by selling Bulgarian operator
Greek operator OTE is planning to sell Globul, its Bulgarian mobile subsidiary with 4.3 million customers, according to local reports.
OTE’s press office told the Capital financial weekly that the potential sale was “part of a strategy for refinancing €3.4 billion of debt maturing over the next two years”. According to the Capital, the Greek operator has appointed Citigroup to assist with the sale.
The newspaper suggests that the potential bidders for Bulgaria’s second largest mobile phone operator include Turkcell, Vodafone and France Telecom-Orange.
OTE’s 40% owner Deutsche Telekom and the Greek government, which has a golden share in OTE, will select the new owner. GTB
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