BNB governor: Bulgaria's Eurozone entry threatened by inflation
Dimitar Radev, governor of the Bulgarian National Bank (BNB), today addressed parliament regarding Bulgaria's readiness to join the Eurozone and said the only obstacle standing in its way was its high inflation rate.
BSP chairwoman Kornelia Ninova, who called for the BNB hearing, asked for an objective assessment against the background of divisions regarding whether the 2024 entry plan should be followed. Some have even argued that there should be no entry at all.
Swiss Emil Frey Group buys Renault and Dacia Bulgaria
Renault Group will sell its Bulgarian subsidiary for import and distribution of the Renault and Dacia brands to Swiss-based Emil Frey Group. The deal should be completed by December, when the new owner will take over the business after approval from the Commission for the Protection of Competition.
The deal changes the ownership of the company which presently sells the most new vehicles in Bulgaria, with Dacia being the leader and Renault the runner-up. In Bulgaria, only two of the leading car manufacturers had direct representation. With Renault's withdrawal, only BMW will now be directly present.
BlackPeak invests in Bulgarian Telelink Infra Services
The 8 million euro investment, one of BlackPeak Capital's biggest investments to date, will go into one of the companies that compose Telelink - the provider of telecommunications infrastructure services Telelink Infra Services.
Telelink Infra Services builds telecom networks mainly on the British market. The new investment aims to boost its business in Western Europe both organically and through acquisitions. The mid-term goal is either a merger, a listing on a Western stock exchange or sale.