United Group agrees to acquire Net1, ComNet Sofia

16 Feb 2021

Netherlands-based United Group, owned by London-based private equity firm BC Partners, has entered into an agreement to acquire 100% of the share capital of Bulgarian operators Net1 and ComNet Sofia for an undisclosed sum. The deal, carried out via United Group’s Vivacom unit, is expected to be finalised in Q2 2021. According to United Group, Net1 is among the leading operators in the Sofia region, providing internet and pay-TV services to residential users as well as integrated telecom solutions for business clients, including services such as IT support, telephony, and video surveillance. Meanwhile, ComNet Sofia is a new generation internet and TV provider with its own fibre-to-the-building (FTTB) network.

As previously reported by TeleGeography’s CommsUpdate, United Group agreed to purchase Bulgarian operator Vivacom in November 2019 and the EC approved the acquisition in April 2020, after concluding that a lack of competition was unlikely considering the ‘very limited increase in the merged entity’s market position and the presence of several other players in the market of retail supply of pay-TV services.’ Vivacom’s acquisition was completed in August 2020.

Bulgaria, United Group, Vivacom (BTC)