Bulgaria sells its tobacco monopoly

(Forbes/AP) Bulgaria says it has struck a deal to sell its tobacco monopoly Bulgartabac Holding to a company controlled by VTB, Russia's second-largest bank, for euro100.1 million ($136.8 million). ... The buyer is committed to keeping its stake for the next five years and maintain the number of employees at 2,400 over the next three years. It also committed to buying 5,000 tons a year of locally grown tobacco over the next five years. Continued