Croatia’s ICAM to launch Romanian blue-chip ETF
N. Macedonia's Stopanska Banka Bitola shares trade in block deal
Eldrive Romania opens EV charging hub at Bucharest mall
Bosnia's Nasa Banka issues 2.1 mln euro green bonds
Bulgaria to commit 2 mln euro for SME cybersecurity
Oct 11, 2007 18:46 EEST
SOFIA (Bulgaria), October 11 (SeeNews) – AIG Global Investment Group (AIGGIG), majority owner of Bulgaria’s dominant fixed-line telecoms operator, BTC, said on Thursday it has raised its buyout bid for the minority stake by over 5.0%.
It will offer to pay 11.30 levs ($8.23/5.78 euro) for each of the 28,663,960 shares in BTC it does not own, Nef Telecom Bulgaria, an AIGGIG unit, said in a statement.
You can subscribe to our M&A newsletter here
The group offered to pay 10.73 levs in its initial buyout bid, which was banned temporarily by the Bulgarian financial regulator until deficiencies in documentation were fixed.
AIGGIG controls 90.07% of BTC’s capital and plans to delist the telecoms operator from the Bulgarian Stock Exchange (BSE). Shares in BTC, part of the blue-chip SOFIX index of the BSE, closed 5.62% lower at 10.10 levs on Thursday.
Earlier this year AIGGIG agreed to buy a 65% stake in BTC for 1.08 billion euro from Novator, a company of Icelandic tycoon Thor Bjorgolfsson. The acquisition price per share was set at 11.25 levs, including the 2006 dividend of 0.55 levs per share.
(1 euro = 1.95583 Bulgarian levs)
You have run out of free articles this month.
Sign up in for
and get ten (10) free articles per month or sign up for
and get unlimited access.
Browse our free newsletter options