Five investment funds and Turk Telecom are reportedly still in the running to acquire a majority stake in Bulgarian Telecommunications Company (BTC), from the 24 companies that initially expressed an interest. According to the Bulgarian press Texas Pacific, Providence Equity Partners, Warburg Pincus, Bain Capital, id Europa Partners and Turk Telekom have all submitted bids for the country’s largest fixed line operator. It is believed that the minimum price for a 90% stake in BTC has been set at EUR1.8 billion (USD2.36 billion). Offers will be accepted until the end of April.
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