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VIG and Bulgaria Are Causing Headache Each Other

Published: November 21, 2013; 21:08 · (Vindobona)

The Austrian insurance group VIG has sold the Bulgarian pension fund to an unknown investor. Bulgaria´s government wants to reverse the sale.

VIG and Bulgaria Are Causing Headache Each Other / Picture: © Flickr

In July 2013, Vienna Insurance Group (VIG) sold the biggest privately held Bulgarian pension fund Doverie to United Capital. In total, 1.250,000 Bulgarians are Doverie´s clients.

Four months after the sale, United Capital did not apply for a license at the Bulgarian Ministry of Social Affairs yet. Insiders report that the new investor still refrains from applying for a license…

This article includes a total of 235 words.

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