OTE looking to exit Bulgaria

25 Jun 2012

The Greek telecoms group OTE has indicated that it may offload its operations in Bulgaria as it looks to refinance EUR3.4 billion (USD4.3 billion) of debt. ‘OTE is considering the possible sale of its units in Bulgaria, GloBul and Germanos Telecom Bulgaria, and plans to start the necessary procedures,’ the Greek firm said in a statement. Reports suggest that Turkcell of Turkey, Orange of France and UK-based Vodafone Group may be among the bidders for GloBul, which claimed around 38% of the Bulgarian mobile market with 4.36 million subscribers at the end of March 2012 according to TeleGeography’s GlobalComms Database. OTE is 40%-owned by Deutsche Telekom (DT) of Germany.

Bulgaria, Cosmote, Telenor Bulgaria