Two Bids for Bulgaria's Tobacco Monopoly Confirmed

Business | January 21, 2003, Tuesday // 00:00

Russia's consortium Rosbulgartabac and Austria's Tobacco Holding GmbH, two of the bidders who lost the initial bid for 80% stake in Bulgaria's tobacco giant Bulgartabac, confirmed the validity of their bids, the Privatisation Agency announced January 20. The validity of the bids was extended by ninety days.

The third candidate, Tobacco Capital Partners, was not asked by PA to confirm the validity of their EUR 110 M bid, a move that could be interpreted as effectively disqualifying the provisional winner in the tobacco sale from the process, heeding a judgement of the Supreme Administrative Court. In the middle of December a five-member panel of the Supreme Administrative Court (SAC) upheld the cancellation of a deal to sell Bulgartabac to Tobacco Capital Partners (TCP).

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Business » Be a reporter: Write and send your article

Advertisement
Advertisement
More from Business

Wizz Air is Expanding its Holiday Network from Bulgaria with a New Route: From Sofia to Heraklion

Passengers can now book tickets for attractions, museums, tours, sports matches, live events and theater performances through the Wizz Air website and app

Business » Tourism | May 3, 2024, Friday // 11:00

Bulgaria Air Offers Seasonal Flights to Barcelona, Palma de Mallorca and Malaga

It's that time of year when the sun rises earlier, the days are warmer, and the desire for rest and adventure calls more and more often

Business » Tourism | May 2, 2024, Thursday // 10:00

Kozloduy NPP Initiates Transition from Russian to US Nuclear Fuel in May

The Kozloduy Nuclear Power Plant (NPP) in Bulgaria is set to embark on a significant transition as it begins the process of replacing Russian nuclear fuel with American fuel from Westinghouse

Business » Energy | April 30, 2024, Tuesday // 16:34

Direct Low-Cost Flights Connect Istanbul and Sofia

In a significant stride towards enhancing connectivity between Turkey and Bulgaria, the launch of direct flights between Istanbul and Sofia marks a milestone in air travel

Business » Tourism | April 30, 2024, Tuesday // 11:05

Time's Up: Last Call for Tax Returns in Bulgaria

As the clock ticks down to midnight tonight, Bulgarians are reminded that April 30th marks the final day for filing their 2023 personal income tax returns

Business » Finance | April 30, 2024, Tuesday // 11:02

Bulgaria's External Debt Reaches €44.4 Billion: National Bank Report

Bulgaria's National Bank has disclosed the country's external debt figures, revealing a notable increase in gross foreign debt at the end of February 2024

Business » Finance | April 29, 2024, Monday // 16:03
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria