According to local reports, the incumbent Bulgarian telco BTC has said it expects its revenues to rise by between 4-5% this year thanks largely to strong sales in the mobile and ADSL sectors. BTC, which invested BFN345 million (€176.4 million) in 2006 and ended the year with over 90,000 ADSL subscribers, is currently the subject of intense speculation as to who will buy a 65% stake in the company from Novatur, which is controlled by the Icelandic entrepreneur Thor Bjorgolsson. Sources in both Bulgaria and the UK now put the insurance company AIG and Turkish telco Türk Telekom as the front runners in a deal that could be worth up to €1.9 billion.
