September 26, 2013 09.53 Europe/London By Chris Dziadul
The Bulgarian government has decided to relinquish its golden share in the incumbent telco Vivacom (BTC).
Novinite reports that this follows a meeting of the Council of Ministers that authorised giving up the share at the company’s general meeting, due to take place next Monday (September 30).
The decision came as a direct result of reports presented by Danail Papazov, the transport minister, and the minister of economy, energy and tourism.
Vivacom has undergone a number of ownership changes in the last few years, the most recent of which saw it acquired by Bulgaria’s Corporate Commercial Bank and the Russian bank VTB. Its interests include the DTH platform Vivacom TV.
The golden share, operated through the Ministry of Transportation and Telecommunications, has until now given the government the right of veto.