Bulgaria’s Corporate Commercial Bank (CCB) and VTB Capital, the investment arm of Russia’s VTB banking group, are reportedly leading the bidding for Sofia-based telecoms operator Vivacom.
A VTB spokesperson confirmed earlier this month that the …
Bulgaria’s Corporate Commercial Bank (CCB) and VTB Capital, the investment arm of Russia’s VTB banking group, are reportedly leading the bidding for Sofia-based telecoms operator Vivacom.
A VTB spokesperson confirmed earlier this month that the company and CCB had placed a joint bid and, according to a report by Bulgarian news agency Focus citing local newspaper Trud, the duo have improved the financial conditions of their original offer.
The report states CCB and VTB have offered €850m for a 94% stake in Vivacom, outbidding Turkcell, which announced last week it would bid for a 93.99% stake in the company.
Turkcell did not say how much it would offer, however a company spokesperson dismissed the US$1.4bn figure mentioned in earlier media reports as “groundless”.
Icelandic businessman Thor Bjorgolfsson and London-based private equity firm Pamplona Capital Management have reportedly also placed bids.
