Vivacom sale moves closer
July 23, 2012 07.45 Europe/London By Chris Dziadul
The Bulgarian incumbent telco BTC, which operates under the brand name Vivacom, is now likely to be sold in September.
Several local reports say that the company has received notification from the Royal Bank of Scotland (RBS), which is representing its creditors, on the conditions of the sale of BTC to what is understood to be a Bulgarian/Russian consortium.
The latter, consisting of KTB and Vneshtorgbank, would pay €130 million for a majority stake in BTC, as well as take on debts of €588 million.
This would be considerably less than previously quoted figures of €800-900 million and €1.65 billion respectively.
Indeed, an offer of €900 million for the company by Turkcell was rejected only last year. BTC, whose interests include the DTH platform Vivacom, has undergone a number of ownership changes in the last few years.
July 23, 2012 07.45 Europe/London By Chris Dziadul
The Bulgarian incumbent telco BTC, which operates under the brand name Vivacom, is now likely to be sold in September.
Several local reports say that the company has received notification from the Royal Bank of Scotland (RBS), which is representing its creditors, on the conditions of the sale of BTC to what is understood to be a Bulgarian/Russian consortium.
The latter, consisting of KTB and Vneshtorgbank, would pay €130 million for a majority stake in BTC, as well as take on debts of €588 million.
This would be considerably less than previously quoted figures of €800-900 million and €1.65 billion respectively.
Indeed, an offer of €900 million for the company by Turkcell was rejected only last year. BTC, whose interests include the DTH platform Vivacom, has undergone a number of ownership changes in the last few years.