The City of Sofia will sell 80.5% of the statute capital of its Municipal Bank, one of Bulgaria's commercial banks with a full banking license
Published:
9 January 2005 y., Sunday
The City of Sofia will sell 80.5% of the statute capital of its Municipal Bank, one of Bulgaria's commercial banks with a full banking license.
Sofia Municipal council is to name a commission to pick a consultant investment intermediary for the sale during its session on January 13.
Sofia Municipality holds 67% stake in the bank, which does not entitle it to block decisions, as the bank's statute provides for all major decisions to be taken with 75% of the shareholders' votes.
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