United Group in management change
The United Group media house, owner of Bulgaria's Vivacom and Nova TV, has unexpectedly announced top management changes, with founder Dragan Šolak and CEO Viktoriya Boklag stepping down. Stan Miller, former CEO of KPN Mobile, will take over as CEO, with telecom veteran Libor Vončina as his deputy.
The company cited a strategic focus on EU markets as the reason, following recent asset sales in the Western Balkans worth 1.5 billion euros. These leadership changes appear to be driven by BC Partners, United Group's main shareholder, which has been exploring a sale of the group or its telecom assets. Vivacom, the most profitable part of the group, remains central to its value, with UG generating 3 billion euros in revenue and serving 40 million subscribers.
Eurozone entry a plus for government borrowing
Following the release of favorable euro convergence reports, Bulgaria successfully raised 300 million levs through a government bond auction at a lower yield of 3.06%-down from 3.51% two months earlier for the same 7-year bond issue. The improved terms are partly due to broader market conditions, including an ECB interest rate cut and high domestic liquidity after a large bond maturity in May.
However, a more significant sign of improved investor confidence is the narrowing spread between Bulgarian and German bonds, dropping from 124 to 82 basis points. This indicates reduced perceived risk and fading currency concerns among investors. Experts note that yields on domestic bonds are now nearly equal to euro-denominated ones, signaling deeper financial convergence.
Tesla introduces paid charging
As of June 15, Tesla has introduced paid charging at its stations in Sofia and Plovdiv after nearly five years of free access. Tesla owners in Bulgaria now pay 0.75 levs per kWh and up to 4 levs per minute for idling after charging. Currently, the ten Tesla stations in the country remain exclusive to Tesla vehicles, but this may change in the future, aligning with broader European practices.
The shift likely responds to new EU regulations requiring public chargers over 50 kW to support card/app payments and be open to all EV brands. This marks a possible first step toward network expansion and modernization in Bulgaria.
United Group in management change
The United Group media house, owner of Bulgaria's Vivacom and Nova TV, has unexpectedly announced top management changes, with founder Dragan Šolak and CEO Viktoriya Boklag stepping down. Stan Miller, former CEO of KPN Mobile, will take over as CEO, with telecom veteran Libor Vončina as his deputy.
