Firms queue up as Bulgaria prepares for mass sell-off

International PR firms are lining up for a slice of a #600,000 budget aimed at encouraging people to participate in Bulgaria’s mass privatisation programme.

International PR firms are lining up for a slice of a #600,000

budget aimed at encouraging people to participate in Bulgaria’s mass

privatisation programme.



The country’s Mass Privatisation Centre (MPC) is due to make a decision

over the next few weeks on the appointment of a consortium of

consultancies to advise on the process. Among those which pitched for

the business in Brussels last week are: Dewe Rogerson with management

consultancy Barents Group Europe, Omnium with French bank Credit

Commercial de France and Young and Rubicam.



Due to start work in June, the successful consortium will handle a

12-month assignment to encourage Bulgarians to purchase shares in

state-run firms by exchanging privatisation vouchers.



In January 1996 the MPC began selling voucher booklets. With a value of

around #22 per booklet, each voucher entitles Bulgarians to buy stakes

in more than 1,000 state enterprises earmarked for mass

privatisation.



Despite a high-profile ad campaign, only around three million Bulgarians

- half of those eligible - bought booklets in time for the May

deadline.



The MPC is now hoping voucher holders will exercise their right to buy

shares.



As well as devising an education campaign to explain the auction process

and the workings of the stock market, the winning consortium will also

be expected to liaise with the local media and to manage an advertising

programme.



The campaign is being funded by Phare, the European Union’s assistance

programme to central and eastern European states.



Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.