Банкеръ Weekly

Briefs

M-TEL IS WAINTING FOR AN INVESTOR

Several western companies have shown interest in buying part of MobilTel, Dr. Herbert Cordt, Chairman of the mobile telephone operator's Management Board, admitted. However, the company refused to mention names, as no negotiations with individual potential buyers have begun yet. According to M-Tel's official information, the number of its subscribers increased by 900,000 in 2002, and according to expectations its 2,000,000th client will be registered by the end of 2003. M-Tel's proceeds for 2002 were around BGN800MN, and its net profit rose by 20% as compared to the BGN230MN, reported in 2001. The first Bulgarian mobile operator brought BGN305MN to the budget last year, and invested more than BGN260MN in the development of its network and modernization of the information technologies and systems. Another BGN15MN was invested in the construction of a new building, intended to house under the same roof all Sofia-based offices of M-Tel. The top office was officially opened on March 25 (Tuesday) in the presence of Sofia Mayor Stefan Sofiansky and Finance Minister Milen Velchev. The new building spreads on an area of 27,000 sq. km and includes a modern centre for informational servicing of customers and a centre for training of company personnel, called M-Tel University.

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