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Bulgarian anti-trust authority ends proceedings on Telegraph Media sale

Author Mario Tanev
Bulgarian anti-trust authority ends proceedings on Telegraph Media sale Brian A Jackson/

SOFIA (Bulgaria), October 25 (SeeNews) - Bulgaria's Commission for Protection of Competition said that it has ended the proceedings concerning local company Intrust's sale of a 50% stake in newspaper publishing company Telegraph Media to film production company Nu Image Bulgaria after Intrust retracted its request for clearance.

Intrust, fully owned by Bulgarian member of parliament Delyan Peevski, withdrew its request on October 10, the regulator said in its decision on Wednesday.

As a result, Intrust will remain the sole owner of Telegraph Media, which publishes the Telegraf, Monitor, Politika and Meridian Mach newspapers.

Nu Image Bulgaria, formerly Nu Boyana Development, is part of US-based Nu Image Inc.

Earlier this month, Peevski said he has decided not to go through with his deal with Nu Image Bulgaria, quoting the delay in receiving approval for the sale from the competition regulator as a reason for his decision.

The parties to the deal sought anti-trust clearance in April.

Peevski intends to set up a new entity, to which he will transfer the ownership of Telegraph Media, he said earlier this month.