Investment fund LIC33 group, which is backed by European investors, is reportedly set to acquire majority control of Bulgarian telco Vivacom (registered as Bulgarian Telecommunications Company [BTC]). According to domestic news source Novinite, Vivacom’s former owner has sold out the telecom’s assets in exchange for the new investor’s commitment to refinance all debts owed to banks, estimated at roughly EUR900 million (USD961 million). The transaction is understood to be subject to customary regulatory approvals.
TeleGeography notes that as of January 2015, Vivacom was wholly-owned by Viva Telecom Bulgaria, itself a subsidiary of Luxembourg-based V2 Investment via holding company InterV Investment. V2 Investment meanwhile is wholly-owned by V Telecom Investment, with its main shareholders listed as follows: Bromak Telecom Invest (43.3%), VTB Capital (33.3%) and former creditors of the telecom (23.43%).