Turkcell, the mobile operator, will submit a bid for Bulgarian telco Vivacom.
The Turkish company said in a brief stock exchange announcement that it has decided to take part in the auction for a 93.99% stake in Vivacom.
Turkcell confirmed last week…
Turkcell, the mobile operator, will submit a bid for Bulgarian telco Vivacom.
The Turkish company said in a brief stock exchange announcement that it has decided to take part in the auction for a 93.99% stake in Vivacom.
Turkcell confirmed last week that it was looking at Vivacom but said its board had not yet reached a decision on whether or not to submit a bid or, if it did, how much it would offer for the company. A spokesperson described the US$1.4bn figure quoted in earlier media reports as “groundless”.
As previously reported, three other bidders have also reportedly submitted binding offers.
Bulgaria’s Corporate Commercial Bank and VTB Capital, the investment arm of Russia’s VTB Bank have placed a joint bid with Morgan Stanley.
Icelandic businessman Thor Bjorgolfsson and London-based private equity firm Pamplona Capital Management have reportedly also placed bids.
