Vivacom attracts an unnamed suitor

9 Jan 2015

Tsvetan Vasilev, majority owner of Bulgaria’s now defunct Corporate Commercial Bank (CCBank), has revealed in an interview with Banker Weekly that former monopoly telco Vivacom has attracted a potential suitor, Novinite reports. The executive said: ‘…talks are underway now for the acquisition of shares of [Vivacom] by a big and renowned US company. I would like the maximum possible value of the company to cover a substantial portion of the liabilities of CCBank.’ Vivacom has assets of EUR71 million (USD96.6 million) tied up in its major shareholder CCBank, which was placed under conservatorship in end-June 2014 and lost its licence five months later.

As previously reported by TeleGeography’s CommsUpdate, in June 2014 Viva Telecom, a Luxembourg-registered holding company established by CCBank, VTB Capital and other shareholders, was said to be looking to dispose of its stake in Vivacom by distributing Vivacom’s prospectus to would-be investors in order to restructure the company’s debts. However, the telco’s management swiftly refuted the claims. Viva Telecom holds 99.79% of the shares in the former monopoly operator.

Bulgaria,Vivacom (BTC),

Subscribe



Feedback

Have feedback, corrections, or story ideas? Send them to editors@commsupdate.com.

Browse Past Issues

Filter

Filter CommsUpdate by the following categories or use the search.

Search

Visit our help page information on performing advanced searches, including how to restrict the results by country or company.

Advertise

CommsUpdate is an outstanding advertising venue for companies seeking to reach:

  • International carriers
  • Wholesale service providers
  • Equipment and software vendors
  • Telecom investors
  • Regulators

Learn more about advertising on CommsUpdate.

Share