Globul Ends Sponsorship Deal with CSKA Sofia

Tlenor's recently acquired Bulgarian operation Globul has announced it is ending its sponsorship deal with local football club CSKA Sofia.

"Globul will not renew its cooperation agreement with CSKA Sofia once the current sponsorship deal with the club ends in the beginning of September," the company said on Friday.

The announcement is not unexpected, since CSKA's new managing body revealed last month that the club would not renew its deal with Globul and was seeking a new sponsor.

Telenor agreed to buy Globul and retailer Germanosfrom Greece's OTE for EUR 717 M.

Globul & Germanos were consolidated in the Telenor Group on August 1, 2013.