RAO UES Cancels Bulgarian Investment Plans.
16 January 2008
Concorde Capital: However, its more likely RAO cancelled the deal because they realized they offered to pay too much. RAO UES definitely over-valued the Bulgarian power plants: RAO offered USD 340 mln for Varna TPP and USD 120 mln for Ruse TPP, while the second largest bid (from CEZ) was only USD 192 mln for Varna and USD 24 mln for Ruse.
