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Economist: The party is nearly over |
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Tuesday, 19 August 2008 |
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IT HAS gone on splendidly for years, and the party isn’t quite finished yet. For a decade or more eastern Europe has benefited from exceptional (and mostly unforeseen) good fortune. Economic and political stability, including for ten countries membership of the European Union, has boosted investors’ confidence and cut borrowing costs. A big pool of cheap and diligent workers, along with the unleashing of entrepreneurial talents, has produced thriving new private businesses. In most countries, growth rates have been stellar. |
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New subsidiary to manage Bulgarian telco BTC real estate assets |
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Monday, 11 August 2008 |
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BTC, the dominant Bulgarian fixed-line telecom, will seek shareholder approval to transfer 100 real estate properties valued at over 281 million euro to one of its subsidiaries. The general meeting of shareholders is scheduled for September 23.
BTC plans to transfer the assets as a non-cash contribution to the balance sheets of one or more newly incorporated single proprietorships, according to the shareholder meeting notice.
Property valuation services was provided by real estate consultants Forton International. The move is expected to streamline the management of the transferred properties and maximise their commercial potential. |
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Estates in Gabrovo