\tNetherlands-based United Group agreed to takeover Bulgarian operator Vivacom for an undisclosed amount, a move which advances a plan to expand its presence in Southeast Europe.<\/p>\n
The sale is expected to be finalised in Q2 2020, subject to regulatory clearances. In a statement, United Group CEO Victoriya Boklag explained \u201cBulgaria is an attractive market and this acquisition will enable us to diversify the group further\u201d, adding Vivacom is a \u201cwell-run company with strong management\u201d.<\/p>\n
She said United Group, which is majority owned by UK private equity company BC Partners, had completed over 100 acquisitions in its history.<\/p>\n
Nikos Stathopoulos, a partner at the equity company, hailed the acquisition of \u201ca dynamic telecom operator in a vibrant economy and a growing market that enables us to expand our geographic reach across Europe\u201d.<\/p>\n
Vivacom chairman Spas Roussev described the transaction as \u201ca great opportunity” for the operator, its customers “and more generally for Bulgaria\u201d. He added the company \u201cwill play a big role in the future development of United Group, their leading regional telecom and media platform\u201d.<\/p>\n
The acquisition broadens United Group’s operations in the region to seven countries.<\/p>\n
Vivacom was put up for sale in July [1] following a lengthy ownership battle. Financial Times reported in September United Group was one of two companies in the running to acquire [2] the business, in deals which would value it at around \u20ac1.2 billion.<\/p>\n[1] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/bulgaria-operator-vivacom-for-sale\/
\n[2] https:\/\/www.mobileworldlive.com\/featured-content\/top-three\/bulgarias-vivacom-attracts-two-bidders\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Netherlands-based United Group agreed to takeover Bulgarian operator Vivacom for an undisclosed amount, a move …<\/p>\n
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