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Bulgarian telecom sale to Austria on hold

FNE Staff 2009-03-12

The sale of the broadcasting division of Bulgarian Telecommunications Company (BTC) to Austria's Oesterreichischer Rundfunksender has been postponed.

According to the announcement, reported by the Sofia News Agency, the sale has been delayed by Bulgaria's broadcasting commission, which said it required an additional four months to okay the sale.

Unconfirmed reports say that the Austrians paid 80 million Euros, with a commitment of an additional investment in upgrades.