Russian investor acquires Bulgaria's Max Telecom

19 Apr 2013

London-based, Russian private equity investor Daniel Kupsin has acquired 100% of the shares of Bulgarian WiMAX operator Max Telecom. Krassimir Stoychev, the founder of the company, will be replaced as CEO by Peter Covell, former Chief Technology Officer at Bulgarian incumbent telco BTC, while Kupsin will take the position of the Chairman of the Board of Directors.

According to TeleGeography’s GlobalComms Database, Max Telecom was the first Bulgarian company to launch WiMAX services back in 2007, reaching nearly 70% coverage of the Bulgarian population in 2012, and offers nationwide mobile internet services. In the press release the company has also announced its plans to launch Long Term Evolution (LTE) technology in the third quarter of 2013, having won an 1800MHz band technology-neutral mobile licence with bandwidth of 2×8MHz for BGN30.4 million (USD19.2 million) in December 2011.

Bulgaria, Max (Bulgaria)