Three bidders interested in Vivacom

20 Feb 2012

There are now just three bidders left in the running to buy heavily indebted Bulgarian fixed line and cellular operator Vivacom, Sofia news agency Novinite reports. With Telekom Austria having declared itself out of the running last week, Turkish mobile operator Turkcell, the head of Bulgaria’s Corporate Commercial Bank, and Icelandic businessman Thor Bjorgolfsson are now thought to be the sole entities still interested in acquiring the stake currently held by PineBridge Investments, a private equity firm controlled by Hong Kong-based PCCW. Bids are being invited until 27 February, with the deadline having been extended by ten days at the request of one of the interested parties. Vivacom is the dominant fixed line and internet provider in Bulgaria, and also operates the country’s third mobile network.

Bulgaria, A1 Telekom Austria Group, Turkcell, Vivacom (BTC)