Binding bids for Globul due next month

4 Feb 2013

Four companies are battling it out to buy Bulgarian cellco Globul, reports Reuters. An unnamed source with direct knowledge of the process said that the deal could be worth around EUR700 million (USD950 million). The OTE-owned wireless operator is being chased by Turkcell, Turk Telekom, Telenor and Deutsche Telekom (DT), although the German company – which has a 40% stake in OTE – is thought to be involved only to encourage serious offers from the other players. Binding bids are expected by 18 March, with a deal likely to be announced later that month or in April. According to TeleGeography’s GlobalComms Database, Globul ended September 2012 with 4.44 million subscribers corresponding to a 35.7% share of the Bulgarian mobile market.

Bulgaria, Cosmote, Deutsche Telekom (DT), Telenor Bulgaria, Telenor Group, Turk Telekom, Turkcell