Bulgarian regulator fines Geotechmin unit over unfair competition practices

Energeo has acquired data concerning the operations of local Ritam-4-TB from one of Ritam-4-TB's former employees, and used the information to attract clients, the competition regulator said in a statement.

Ritam-4-TB's former employee - M. Stoynov, was also fined 5,000 levs.

Energeo generated a turnover of 53.2 million levs in 2018, and closed the year with a net profit of 1.2 million levs, according to its annual financial statement.

The Geotechmin group posted revenue of 628.3 million levs last year and a net profit of 148.3 million levs.

(1 euro = 1.95583 levs)