CPC LAUNCHED PROBE INTO THE COMPANY ACQUIRING STAKES IN BTC

The Bulgarian competition regulator (CPC) said on 30th of March it launched a preliminary probe prompted by media reports that a newly-registered foreign company, LIC33, was acquiring stakes in companies operating in various sectors of the economy.

Last week LIC33, which describes itself as a group of companies bringing together European Union investors, said it acquired for 1 euro the stakes held by controversial local businessman Tsvetan Vasilev in the Bulgarian Telecommunication Company (BTC), ammunition maker Dunarit, aircraft repair company Avionams, TV services providers NURTS and First Digital and audience research company Garb against a commitment to repay the companies' debts, estimated at 900 million euro . The deal involved 43% of BTC, 91% of Dunarit and as much of Avionams, and 100% of NURTS, First Digital and Garb.