Банкеръ Weekly



The Sofia Mayor Boyko Borissov announced last weekend he would revoke the contracts for placing and using outside advertising equipment of two companies. He added they had closed contracts for more than 300 billboards on July 15. The municipality specified the firms in question were VAL-Bulgaria and Advertising Network 5. Both of them are owned by Elena Urumova, wife of the former deputy mayor in charge of education, Bogdan Stefanov. Ms Urumova's companies and Image, belonging to Dilyana Grozdanova, wife of Lyubomir Pavlov, Chairman of Municipal Bank's Supervisory Board, are said to be the major players on the ads market in the capital city.
The contracts of VAL-Bulgaria and Advertising Network 5 were signed by the former acting mayor Minko Gerdjikov. That happened on the day after the Sofia Municipal Council approved the new ordinance on the movable equipment in Sofia, about which the BANKER has already written. By it the municipal council hiked the monthly rent for billboards from BGN230 to EUR230.
The Architecture and Town Planning directorate has moved to the Mayor a scheme of billboards, envisioning to clear the entire board centre of outside ads, the municipal administration added.

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