Vivacom denies Orange’s takeover plans

21 Nov 2016

Following media reports claiming that French group Orange was mulling a takeover bid of Bulgarian telecoms operator Vivacom (registered as Bulgarian Telecommunication Company, or BTC), the management of the Balkan operator has revealed that there is no ongoing sales process and that there are no plans in that direction at this stage. The press release went on to say that ‘Vivacom is focused and committed on delivering high quality telecommunications services and is maintaining its daily business operations as usual.’

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)