No bidders turned up for Monday's auction of the production assets of Bulgaria's insolvent steel mill Kremikovtzi, Sofia-based media reported.
As no candidates submitted sealed bids in the one-hour auction that started at 0900 GMT on Monday, a new auction with direct bidding will be called, state-run news agency BTA (www.bta.bg) reported, quoting the steel mill's receiver Tsvetan Bankov. A date for the new auction is yet to be set.
The starting price at Monday's auction was set at 565.5 million levs ($367.4 million/289.8 million euro).
The Sofia City Court declared the idled steel mill insolvent on May 31, 2010.