Bulgarian incumbent Vivacom has finalised the sale of its remaining 50% stake in broadcasting tower company NURTS to Bluesat Partners Ltd.
In August 2010, Vivacom sold half of the company to Mancelord, a Cyprus-based financial investor represented in…
Bulgarian incumbent Vivacom has finalised the sale of its remaining 50% stake in broadcasting tower company NURTS to Bluesat Partners Ltd.
In August 2010, Vivacom sold half of the company to Mancelord, a Cyprus-based financial investor represented in Bulgaria by Bromak Ltd, a majority shareholder in Corporate Commercial Bank Ltd.
The price of both transactions was based on a total equity valuation of E57m.
Vivacom was advised by Lazard.
The Protection of Competition Commission (PCC) gave its approval in July.
NURTS operates a radio and TV broadcasting tower network throughout Bulgaria. It has provided terrestrial digital broadcasting services under the DVB-T standard in Sofia since 2006.
