Irish commercial and residential property developer West Incorporated has purchased one of the juiciest assets of the Bulgarian Telecommunications Company (BTC).

The Sofia-headquartered company has paid EUR 22.5 million to acquire the Phone Palace in downtown Sofia, the buyer said in a statement on Monday.

The Irish company unpackaged plans to pump north of EUR 100 million into converting the building, which was also eyed by Bulgarian entrepreneur Vassil Bojkov, into a retail and leisure centre...

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