Vivacom-BTC sale could go ahead this year

26 Jun 2012

The sale of the Bulgarian fixed line and cellular operator Vivacom-BTC may go ahead before the end of this year according to local press reports. Vivacom’s owners attempted to sell the operator earlier this year, with Turkcell of Turkey emerging as the favoured bidder, but the deal collapsed when Turkcell demanded at least EUR100 million indemnity to insure against the outcome of ongoing legal action between the Bulgarian government and previous Vivacom shareholders. A report from Novinite.com, which cites local newspaper Capital, says unnamed insiders are claiming that Vivacom could be up for sale again before the end of 2012. The telco is currently in the hands of creditors after it breached the terms of loan agreements, and these creditors are currently looking to restructure Vivacom to reduce its debts ahead of the new sale.

Vivacom is not the only Bulgarian operator undergoing changes to its ownership. Earlier this week it was reported that Greek firm OTE had put its own Bulgarian wireless unit, GloBul, up for sale as it looks to reduce its debts, while the ownership of cellular market leader Mobiltel is also in flux, with Mexican businessman Carlos Slim in the process of acquiring a 21% stake in its parent company, the Telekom Austria Group.

Bulgaria,Vivacom (BTC),

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