The Bulgarian incumbent telco BTC has posted disappointing results for 2006, with after tax profits in the year more than halving to BGN132.3 million (€68.2 million). What is more, it forecast they would fall still further, to BGN111.6 million this year and BGN105.6 million in 2007. However, it was not all gloom and doom for the company, which is currently a take-over target for (amongst others) both Turk Telekom and Turkcell. Its total revenues are expected to grow from BGN1.02 billion this year to BGN1.15 billion in 2008. Although BTC ended last year with over 90,000 ADSL subscribers, unlike most of its counterparts in other parts of Central and Eastern Europe it has yet to launch an IPTV platform. The greatest competition it currently faces is in the provision of mobile services.