Company name BULGARIAN TELECOM
Headline VIVACOM servicing banks - Update


RNS Number : 4171L
BULGARIAN TELECOMMUNICATIONS CO
03 July 2014
 

 

VIVACOM servicing banks - update

Sofia, 3rd of July, 2014

On 23 of June, 2014 VIVACOM made an announcement regarding its cash balance in Corporate Commercial Bank (CCB). The estimated cash balance at the time of the announcement was EUR 6.5m based on the information available at that moment.

As per the latest information available to VIVACOM, certain transfers that have been ordered by the company have not taken place due to suspension of CCB operations. As a result, the estimated cash balance in CCB is believed to be around EUR 71m.

According to the official statement of the Bulgarian National Bank, the necessary support will be provided to CCB to meet its full obligations to its customers and the bank is scheduled to resume full operations on 21 July 2014.

VIVACOM continues to generate positive cash flows from operating activities and the financial position of the company is stable, with more than EUR 20m of cash in its other servicing banks.

Information about the events relating to CCB can be found on www.bnb.bg and www.corpbank.bg.

 

 

 

 

 

This announcement has been issued through the Companies Announcement Service of

The Irish Stock Exchange

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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