Orange mulling takeover of Bulgarian cellco Vivacom

18 Nov 2016

French telecoms group Orange is reportedly considering the potential acquisition of Bulgarian telecoms provider Vivacom (registered as Bulgarian Telecommunications Company, or BTC), Les Echos writes. Ramon Fernandez, Deputy Chief Executive Officer at Orange, was cited by the newspaper as saying: Yes, […] it is one opportunity among others.’

As reported by TeleGeography’s CommsUpdate in September 2016, Bulgarian businessman Spas Roussev took control of Vivacom from VTB Capital (the investment-banking arm of Russia’s VTB). ‘On 30 August 2016, the sale of 100% of shares in InterV Investment [a Luxembourg-based indirect holding company of Vivacom] was successfully completed … The company was acquired by Viva Telecom, a consortium headed by Spas Roussev as its largest shareholder, and various minority investors, including VTB,’ the bank said in a press release. Roussev currently has 46% of the Bulgarian telco, VTB owns 20% minus one share, Delta Capital (controlled by the managers of the Bulgarian division of VTB Capital) has 19%, while the rest is held by former creditors of Vivacom.

Bulgaria, Orange Group, Vivacom (BTC)