Negotiations with OTE/KPN on BTC Sale Near Completion.

13.03.2000

Bulgarian PM Kostov assured that negotiations on the sale of the Bulgarian Telecoms Company (BTC) with OTE-KPN, the Greek-Dutch consortium, are nearing completion and will end either in a successful deal or in a widening of the gap between the negotiating parties and a new competitive bidding. He also said that the Government would not take a decision on the sale of the BTC putting the national interest at risk. Talks on finalising the $510 million acquisition have dragged on since the government signed a preliminary agreement with the consortium last July. The two sides have said they are eager to close the deal, but there were still outstanding issues