Bulgarian mobile operator and satellite TV broadcaster Bulsatcom is looking to secure an €85m (US$113m) loan package to upgrade its mobile network and roll out more fibre infrastructure.
The European Bank for Reconstruction and Development (EBRD) is…
Bulgarian mobile operator and satellite TV broadcaster Bulsatcom is looking to secure an €85m (US$113m) loan package to upgrade its mobile network and roll out more fibre infrastructure.
The European Bank for Reconstruction and Development (EBRD) is reviewing a €20m loan for the project, which will join a €65m senior secured syndicated loan being arranged by an undisclosed commercial bank.
“The project will support market expansion through improving access to broadband in urban and rural areas in the country at affordable prices,” stated EBRD.
“This is important in the context of Bulgaria having one of the lowest fixed broadband penetration rates in the EU.”
Bulsatcom, which started offering services in 2004, operates in crowded DTH and mobile markets. Its wireless rivals are Telekom Austria’s Mtel, Telenor-owned Globul, Vivacom and Max.
In February this year EBRD invested €50m (US$67m) in SBB/Telemach, South-East Europe’s largest pay-TV provider, to support its expansion across the region.
