The majority shareholders in Bulgarian telco Vivacom have launched a tender offer to take full control of the operator, valuing it at about Lv810m (US$554.4m).
Viva Telecom Bulgaria, owned by affiliates of Bulgaria’s Corporate Commercial Bank (CCB)…
The majority shareholders in Bulgarian telco Vivacom have launched a tender offer to take full control of the operator, valuing it at about Lv810m (US$554.4m).
Viva Telecom Bulgaria, owned by affiliates of Bulgaria’s Corporate Commercial Bank (CCB) and Russia’s VTB Capital, are offering Lv2.80 per (US$1.92) share for the 5.91% of Vivacom shares they do not own, according to a filing on the Bulgarian Stock Exchange.
Last November, Vivacom announced that Viva had agreed to pay €130m (US$165m) for a 93.99% stake in Vivacom. The restructuring agreement with creditors also saw Viva pay off debts of about €588m, reduced from €1.7bn. The restructuring deal has the approval of both local regulators and the European Commission.
In a separate regulatory filing, the Sofia-based telco announced its net profit in 2012 rose 182% to Lv20.3m (US$13.95m).
