Stein-Erik Vellan, CEO of Telenor’s recently acquired mobile operator Cosmo Bulgaria Mobile (trading under the GloBul brand), has announced that the Bulgarian unit will be rebranded to Telenor after an infrastructure upgrade is completed in 2014, local news agency Novinite reports. According to the article, Vellan said: ‘If you look at the 14 countries in which we operate, in all except one – Malaysia, where the ownership is not 100% ours, the brand of the operator is Telenor. So – yes, the new name of the operator in Bulgaria will be also Telenor.’ Further, the executive revealed that GloBul’s integrated retailer Germanos Telecom will also be rebranded.
As previously reported by TeleGeography’s CommsUpdate, Greek-based Hellenic Telecommunications Organisation (OTE) sold GloBul and Germanos Telecom to Norwegian group Telenor in April 2013; the deal was concluded on 31 July 2013, after the European Commission (EC) granted its approval for the acquisition. The sale price amounted to EUR717 million (USD951.8 million), equivalent to six times the company’s projected EBITDA for 2013.