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Report: One bidder shows interest in Bulgaria-based Municipal Bank

Liechtenstein-registered Novito Opportunities submitted a bid to purchase a 67.65% stake in Municipal Bank Plc, Reuters reported Dec. 6.

The bid filed by Novito Opportunities, which is part of Liechtenstein-based investment company CAIAC Fund Management AG, was the only one submitted in a tender for the lender's 3,880,388 shares owned by Sofia Municipality, the newswire said Dec. 6.

The tender was launched in October by Sofia's Municipal Privatization and Investment Agency, with the minimum price set at 45.65 million Bulgarian leva for the stake.

As of Dec. 6, US$1 was equivalent to 1.66 Bulgarian leva.