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"Serious foreign interest" in Bulgaria's flag-carrier privatisation

Date: 27.03.2006

There is a serious interest from foreign companies in the privatisation of Bulgaria's flag-carrier "Bulgaria Air", Transport Minister Petar Mutafchiev commented.

His comments came after parliamentary opposition claimed that the approved privatisation strategy is in favour of just one company. Mutafchiev told local Darik radio that there are no grounds for these claims.

A day earlier Bulgaria's Parliament approved at first reading the strategy for the privatisation of "Bulgaria Air."

Bulgaria will offer 99,99% of national flag-carrier for sale. The flag-carrier will be sold out at a public two-stage tender, which is open to strategic and financial investors, only if the company, which owns no less than 51% of the partnership, is Bulgarian or European.

The opposition in Parliament attacked the strategy claiming that it had too high requirements and will thus provoke low interest in the deal.

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