The Turkish mobile group Turkcell has been named as the most likely winner of an auction for a 93.99% stake in Bulgaria’s former monopoly operator Vivacom. Turkcell, which is itself backed by Scandinavian telco TeliaSonera, Altimo of Russia and Cukurova Holding of Turkey, is said to have offered over EUR870 million (USD1.14 billion) for the stake, according to Novinite, which cites local newspaper Capital. The UK-based private equity fund Pamplona Capital Management was the runner-up in the bidding, according to local media reports. It is not known when a formal announcement on the outcome of the bidding will be made. Vivacom is currently majority owned by Pinebridge Investments, which is part of the Hong Kong-based telecoms group PCCW.
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