Bulgaria News
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VTB Capital Plc, the investment banking unit of Russia’s second-biggest state-run lender, plans to invest “several hundred million euros” in the Balkans in the next few years, the bank’s chief executive said.
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VTB Capital, the investment banking unit of Russia’s second-biggest state-run lender, is considering the acquisition of Vivacom AD, Bulgaria’s biggest fixed-line phone company, together with the Sofia-based Corporate Commercial Bank AD., said Atanas Bostandjiev, chief executive officer of VTB Capital Plc.
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Turkcell Iletisim Hizmetleri AS, the biggest Turkish mobile-phone company, may make a bid for Vivacom AD, valuing the Bulgarian company at about $1.4 billion, people with knowledge of the process said.
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Bulgarian Prime Minister Boiko Borissov ordered his ministers to return all bonus payments they have received since taking office in 2009 or be fired, in a move that follows criticism from opposition politicians.
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Bulgaria seeks to negotiate lower natural gas prices with OAO Gazprom that will eliminate intermediaries, which raise the cost, Bulgarian Energy and Economy Minister Traicho Traikov told reporters in Sofia today.
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CEZ AS, the Czech Republic’s largest power utility that controls Bulgaria’s biggest electricity distributors, needs to invest 151 million lev ($104 million) to support and expand the Balkan country’s grid.
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Bulgaria’s grain exports will probably decline by 1.4 percent to 3.6 million metric tons in the marketing year starting July 1, according to agricultural researcher UkrAgroConsult.
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Srbijagas, Serbia’s national gas company, discussed with General Electric Co. the possible cooperation on pipelines and gas-fired plants in the Balkan country.
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Austria’s regulators are discussing rules for its top banks that will curb excessive lending in eastern Europe with the European Commission, according to the Central Bank Governor Ewald Nowotny.
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China’s exclusion of foreign automakers from a proposed list of fleet suppliers may prompt other countries to make it harder for the nation’s carmakers to expand, the European Union Chamber of Commerce in China said.
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