Privatization delayed by litigation

ON THE POSITIVE side, the sale of DSK Bank to Hungarian bank OTP for e311 million means that the entire Bulgarian banking sector is in private hands and more than 80% of shares are owned by foreign investors. The government has also said it is committed to breaking up and selling off its electricity distribution sector in seven companies by the end of the year.

Prospects are, however, much worse for the sales of telecom operator Bulgarian Telecommunications Company (BTC), and the tobacco monopoly Bulgartabac.