Vivacom’s shares blocked over tax claim

8 Apr 2015

Bulgaria’s National Revenue Agency (NRA) has issued a notification according to which an attachment is imposed under the Tax and Social Insurance Procedure Code on 100% of Vivacom’s (registered as Bulgarian Telecommunications Company’s) shares, owned by parent company Viva Telecom Bulgaria. The attachment is imposed as an interim security measure to lock a possible future tax receivable of BGN500,000 (USD277,700). Vivacom pointed out that the attachment would not affect ‘the normal course of business.’

TeleGeography notes that as of January 2015, Vivacom was wholly-owned by Viva Telecom, 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%).

Bulgaria, Vivacom (BTC)