Telecom giant restructures locally
United Group (UG), the Balkan telecom and media company that owns Vivacom and Nova TV, is downsizing by selling its non-EU businesses for 1.5 billion euro. After the restructuring, Serbian businessman Dragan Šolak is expected to become the new majority owner, while BC Partners will likely exit its investment, according to Capital.
The company will focus solely on its EU operations in Bulgaria, Greece, Slovenia, and Croatia, with Bulgaria being its most profitable market. The decision follows failed attempts last year to sell the entire group for 8 billion euro, leading to a shift toward partial sales to reduce debt and facilitate the ownership transition.
Waste not, want not
The expiring waste collection contracts for Sofia are set to be re-tendered in March, with the city aiming to allow foreign companies to compete. While the total value of the new contracts remains unknown, they will likely reflect upcoming waste management reforms, including the "polluter pays" principle set to take effect in 2026.
The new tender will include stricter oversight, GPS tracking for garbage trucks, and weight sensors on hydraulic lifts to prevent double charging for waste from other municipalities. A key question is whether the current dominant companies, linked to figures like Rumen Gaitanski and the Domuschiev brothers, will retain their positions or if a new player, such as "Trans 2025," which recently entered the Plovdiv and Burgas markets, will disrupt the sector.
Gutsanov sparks outrage after attending Russian event
Borislav Gutsanov, Bulgarian Labor Minister and candidate for leadership of BSP, which has notoriously strong ties to Russia, defended his participation in a Russian embassy-organized conference honoring former Russian Foreign Minister Yevgeny Primakov.
The event, attended by Russian Ambassador Eleonora Mitrofanova, sparked criticism from Democratic Bulgaria, with MP Ivaylo Mirchev calling it a "scandal" and demanding explanations from Gutsanov.
The Atlantic Council of Bulgaria even called for his resignation, citing his engagement with a representative of a country that has labeled Bulgaria as "unfriendly." Gutsanov dismissed the criticism, arguing that the event was a legitimate academic discussion held in Bulgaria, attended by former Prime Minister Simeon Saxe-Coburg-Gotha, MEPs, and academics, focusing on the shift from a unipolar to a multipolar world order.
