Vivacom owners make buyout offer

29 Jan 2013

According to the Capital Daily newspaper, the majority owners of Bulgarian telco Vivacom have offered to buy out minority shareholders. Bulgarian bank Bromak and Russian bank VTB Bank acquired 43.3% and 33.3% of Vivacom respectively late last year, with a number of other banks holding a combined 17.5% stake. Bromak and VTB have reportedly made an offer to buy the remaining 5.9% stake in a deal valuing Vivacom at USD557 million. The offer is valid for one month.

Bulgaria, Vivacom (BTC)