Shareholdsers in Bulgarian Telecommunications Company (BTC) approved the proposal for dividend distribution of 0.55 leva per share for 2006, BSE- Sofia reports.

The company will pay dividend in BGN or its equivalent in euro according to the Bulgarian National Banks rates for the day. Ex-dividend date is 29 July 2007.

Shareholders also approved a proposal to finance BTC Mobile (Vivatel) with a loan of up to 240 mln leva given in cash deposits to the capital of BTC Mobile. The number of depisits and the interval between them will be determined by the company's Board of Directors.

On May 3 Novator and Viva Ventures GmbH (Viva) signed an agreement with AIG Global Investment Group (AIGGIG) through which AIGGIG acquired Viva's 65% stake in the Bulgarian Telecommunications Company. It was also agreed that shortly afterwards AIGGIG will acquire another 25% of BTC.

Shares were acquired at 11.25 leva (5.75 euro). The total amount paid for the 65% stake is 2.112 bln leva (1.08 bln euro). After the deal, BTC's tota value reaches 3.249 bln leva (1.661 bln euro).

Viva Ventures acquired 65% of Bulgarian Telecommunications Company in 2004 for 230 mln euro. The company also increased capital by 50 mln leva in the same year.

In today's early trade 92 shares changed hands on the position at 10.90 leva/share.