Telekom Austria Group’s Bulgarian subsidiary Mobiltel has agreed to acquire 100% of cable operator Blizoo (formerly Cable Tel-Eurocom) from Sweden-based investment fund EQT, for an undisclosed price. A statement issued by Telekom Austria notes that the company will finance the transaction via its existing cashflow, with the acquisition expected to close in Q4 2015. The deal is subject to regulatory approval.
TeleGeography’s GlobalComms Database notes that Blizoo offers digital/analogue cable TV, high speed internet access and voice telephony, and operates its own 2,000km national fibre-optic backbone while using hybrid fibre-coaxial (HFC) technology, including DOCSIS 2.0 and DOCSIS 3.0 upgrades, to connect to customers’ premises.
As previously reported by TeleGeography’s CommsUpdate, EQT hired Jefferies and UniCredit as financial advisers for the potential sale of Blizoo in September 2013, but called off the sale in November 2013, with ‘limited interest and major differences in price expectations’ cited as the main reasons for the failed divestment. However, Blizoo’s sister operation in Macedonia was acquired by Telekom Austria in July 2014.