Банкеръ Weekly



Latest within a month it will be clear whether a strategic prospective US investor, prepared to buy the majority 75% stake of Incoms Telecom Holding shares, will appear at the Bulgarian business horizon. Anyway, as the Banker weekly was informed, a week ago the famous consultants Ernst Young deposited at PA an official letter of a US company intentions to participate in the new tender for the privatisation of the holding. There is no information on which exactly is the company, but Ernst Young experts said that it already owns several Bulgarian companies. Yet, according to well informed sources, the US investor - one of the world leaders in machine building - already owned a prosperous company in one of the luckiest Bulgarian towns - Sevlievo.
Whether the information is correct we'll be able to find out only after it is announced who has bought the updated Incoms Telecom information memorandum. The most important thing will be which of them will present their offers within the timelimit of 30 days after the publication in the State Gazette of PA decision for the sale of the holding. The decision was made by PA Executive Council on April 19,2001. It specified also the privatisation method - through negotiations with potential buyers - as well as the criteria for evaluating their offers.
An important new condition is that no MEBO units will be allowed to participate in the tender, as PA managers have put the requirement that in this case no deferred payment as per the regulations of Art. 25, item 3, para 1 of the Privatisation Act, will be allowed, and not less than 30% of the price is payable on the day of signing the contract, and the remaining part - within 15 days after that date. Another important fact is that PA will negotiate only with potential buyers with proven expertise in the sphere of electronics, telecommunications, machine building or other activities closely related to the holding's activities.

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