Банкеръ Weekly

Briefs

TERM FOR SUBMISSION OF FINAL OFFERS FOR BTC MIGHT BE EXTENDED

An expert team in the privatisation of the Bulgarian Telecommunications Company (BTC) is considering the opportunity for a new extention of the term for sumbission of final offers for the telecom's purchase. September 10, 2002 is presently the deadline. None of the three candidate-buyers of the BTC (a consortium of the Turkish Koc Holding and Turk Telekom, Viva Ventures Holding GmbH, and AIG-CET Capital Management) had demanded changes in its shareholder structure till August 26, which was the term for announcing such demands. By September 5 the candidates may visit the Bulgarian telecom monopoly's two information halls. Prior submitting their final offers the bidders in the tender will have to deposit EUR3MN as an unconditional bank guarantee, valid for three months. It will cover the negotiated purchase price, capital increase and investments.The offered price will be the most important criterion when assessing the offers and will bring 80 points to the candidate. Fifteen points will be given for a three-year employment programme, and 5 points - for additional investments on the part of the buyer for a period spanning from January 2003 till December 2006.

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