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Buyer for Bulgarian pension fund Doverie backs out

Reuters - UK Focus

VIENNA, Jan 29 (Reuters) - The selected buyer for Bulgaria's largest private pension fund, Doverie withdrew from the deal last month, the seller Vienna Insurance Group (Other OTC: VNRFY - news) said on Wednesday.

The Austrian group's chief executive Peter Hagen told reporters Vienna planned to keep Doverie for now.

The buyer, UK-registered company United Capital (Other OTC: UCAP - news) , had said in July it planned to file soon for regulatory approvals with Bulgarian authorities.

But the lack of public information about the buyer had raised concerns in Bulgaria and the ruling Socialists had urged the financial regulator to halt the deal.