Delayed sale of Bulgartabak

摘要

Bulgaria has delayed the sale of tobacco company Bulgartabak Holding until the end of March and plans to hire a consultant to help structure the deal, Bulgarian Economy and Energy Minister Traicho Traikov recently announced.rnThe new government, which won July elections, initially aimed to sell the company by the end of 2009 at an open auction, but the plan failed to attract the interest of major tobacco companies.rnBulgartabak, the country's leading cigarette maker, has a market capitalization of 155 mn levs ($118.8 mn). "The initial idea was not the most suitable... We have decided to hire a consultant to help structure the deal," Traikov told reporters. "The sale will be delayed, but could happen in the first quarter next year."