Fourth bidder for Vivacom appears

2 Mar 2012

A fourth bidder for indebted Bulgarian telco Vivacom has been revealed, after Telekom Austria dropped out of the running. According to local daily Novinite, in addition to the two known bidders the head of Bulgaria’s Corporate Commercial Bank, Tsvetan Vassilev and Icelandic businessman Thor Bjorgolfsson – London-based private equity firm Pamplona Capital Management has also reportedly entered a bid. Turkey’s Turkcell is expected to enter a bid shortly, once it has completed due diligence. Russian lenders VTB Capital have also weighed in, according to Reuters, entering a joint bid with Bulgaria’s Corporate Commercial Bank. Atanas Bostandjiev, head of VTB Capital’s international business, said that the firm was interested in acquiring a majority stake or at least a managing stake with blocking minority rights. Bostandjiev added that VTB was not necessarily interested in managing Vivacom, but was participating on behalf of clients, but refused to elaborate further.

Bulgaria, Turkcell, Vivacom (BTC)