Bulgaria’s Communications Regulatory Commission (CRC) has approved the sale of tower company NURTS, according to Novinite.
The regulator gave the green light after having twice delayed its approval to carry out further investigation.
Last April, telecoms…
Bulgaria’s Communications Regulatory Commission (CRC) has approved the sale of tower company NURTS, according to Novinite.
The regulator gave the green light after having twice delayed its approval to carry out further investigation.
Last April, telecoms incumbent BTC, which operates as Vivacom, signed an agreement to sell 50% of its broadcasting division to Cyprus-based financial investor Mancelord, a company represented in Bulgaria by Bromak Ltd., a majority shareholder in Bulgaria’s Corporate Commercial Bank Ltd.
Criticism emerged in local media suggesting that the CRC and the Competition Protection Commission (CPC) would be unable to carry out the necessary investigation to find out who was behind the sale.
Lazard advised Vivacom on the transaction, the price of which has not been disclosed.
In 2008 Austria’s ORS signed a preliminary agreement to acquire NURTS but the regulatory authorities failed to approve it before the agreement lapsed.
The regulatory authority was not immediately available for comment.
