Russian Bank Behind Firm Bidding for Bulgartabac

Source from:  Tobacco Reporter 07/12/2011

Russia's second-biggest bank, VTB, stands behind one of the two Austria-registered bidders for Bulgartabac, according to a Novinite story quoting the Agency for Privatization and Post Privatization Control. "VTB Bank is the financial institution behind the company BT Invest, which is one of the bidders for Bulgartabac," the agency announced on Friday, confirming media reports that had been circulating last week. Three companies met last week's deadline for notifying the agency that they meet the preliminary requirements for bidding for a majority stake in Bulgartabac: British American Tobacco and two Austrian companies, CB Family Office Services and BT Invest. Enditem