Mobiltel wins the First UMTS Class A license
This country's first and biggest mobile network operator, MobilTel won the auction for UMTS Class A license. The company won offering to pay 78 million levs against the offer of the Bulgarian Telecommunications Company (BTC). The starting bid price was 70 million levs with an increment of 2 million levs. The auction was held under tight security measures at the National Palace of Culture and lasted 2 hours. As the price stood at 78 million levs, it became obvious that M-Tel were winning the bid. By end-2006, the UMTS will cover Sofia, Varna, Plovdiv, Burgas and Ruse, CEO Nikolay Nikolov released. Over the next year and a half, we plan to invest 100 million euros and build an entirely new network for the UMTS, he elaborated.