Bulgarian satellite TV broadcaster Bulsatcom is looking to secure a €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…
Bulgarian satellite TV broadcaster Bulsatcom is looking to secure a €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 operates in a crowded DTH market, with Vivacom TV and local telco Neterra’s recently-launched W1 platform vying for subscribers.
Another Bulgarian DTH provider, Satellite BG, shut down its services in June 2013, just over two years after its launch, as it blamed the wider economic crisis for its demise. It agreed a tie-up with Vivacom to transfer subscribers to its rival before switching off.
Bulsatcom started offering services in 2004.
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.
