The municipality of the capital city Sofia informs that 4 candidates have filed offers in the tender for consulting the privatisation of Municipal Bank. The sell-out of the municipal stake of at least 67% is expected to take place by the end of the year.  The remaining part of the shares is held by private firms, some of them with minor participation of municipal entities. Local businessman Hristo Kovachki is rumoured as holding a blocking quota of 25% in the Bank that could represent a serious impediment to its successful privatisation. The list of candidates comprises Ernst&Young and three consortiums composed of local and foreign legal and business consultants. The privatisation consultant will receive fixed fees for the sale and a 2% success fee from the price of the deal.