Bulgaria's biggest GSM operator Mobiltel announced its revenue was expected to rise to BGN 650 M in 2001 from BGN 402 M the previous year. Executive Director Roumyana Kyuchukova said Mobiltel, whose subscribers more than doubled over the past year to 1.3 million, is expected to have two million subscribers by end-2002, or one fourth of Bulgaria's population. Net profit is expected to top BGN 200 M, more than two times higher than the BGN 84 M profit registered in 2000. Kyuchukova said her company planned to invest BGN 300 M in upgrading its network in 2002, higher than the BGN 250 M invested in 2001. Mobiltel is in the process of being acquired by an Austrian consortium