The local subsidiary of AIG Capital Partners, NEF Telecom, submitted a buyback offer to minority shareholders of the country’s main landline telecom BTC Friday last week (Aug 31), a note on the local stock exchange reads. The bidder offers a unit price of BGN 10.73 (EUR 5.49) for 28,872,205 shares or about 10% of BTC, which is slightly above the price of BGN 10.70 per share paid by AIG Partners for the majority stake. However, the price offer is slightly below the peak levels reached on the local stock exchange in the past several months and the state securities commission may push for improve parameters. Last month, AIG Capital Partners, has completed the acquisition of 90% of BTC booked in block deals on the local stock exchange for a total of BGN 2.77bn. The buyback offer expires in about a month. AIG Capital Partners plans to delist the largest company traded on the local stock exchange from the public companies register right after all legal conditions are met. BTC is the biggest landline operator in the country and full stakeholder in the third cell-phone network vivatel. The net consolidated profit of BTC dropped 22% y/y to BGN 72.4mn (EUR 37mn) in H1 after a 15% decline last year.