EC approves state aid of EUR 25.51 million for Bulgarian Posts

The European Commission has approved, under EU State aid rules, Bulgaria's plans to grant postal operator Bulgarian Posts restructuring aid for up to €25.51 million (BGN 50 million). The measure will enable the company to restore its long-term viability while minimising competition distortions.

Bulgarian posts has received a rescue loan from Bulgaria of approximately €26.5 million (BGN 50 million), after approval by the Commission under EU State aid rules in May 2023.

On 21 December 2023, Bulgaria notified to the Commission restructuring aid in the form of conversion into equity of the rescue loan, supporting a plan for the restructuring of Bulgarian Posts. The restructuring plan sets out a package of measures for streamlining Bulgarian Post's operations, optimising its network and reducing costs.

In parallel, Bulgarian Posts will develop or provide services such as telemedicine or administration through its ubiquitous network on behalf of other public entities, bringing such services closer to citizens in remote areas not well served, EC's press release said.