Sweden-based investment fund EQT has reportedly hired Jefferies and UniCredit as financial advisers for the potential sale of cable TV and fixed broadband operator Blizoo. TMT Finance reports that Jefferies has been chosen as the lead adviser on the sale, while UniCredit will assume a secondary role. As previously reported by TeleGeography’s CommsUpdate, EQT had been mulling an exit from the Bulgarian and Macedonian telecoms markets since August 2013. The invitations to participate in the sale process were reportedly issued that month, with potential bids likely to be submitted in September. Representatives of the Bulgarian division of Blizoo held preliminary discussions with the three major telecoms operators in Bulgaria – MobilTel (M-Tel), Cosmo Bulgaria (GloBul) and Vivacom – but the first named company has been the only one to show an interest in bidding for the cableco thus far.
According to TeleGeography’s GlobalComms Database, Blizoo is 99% owned by EQT. Blizoo and its sister operation in Macedonia have a joint subscriber base of over 440,000, whilst together they reported combined sales of EUR57 million (USD76 million) in 2012, with EBITDA of EUR22 million.