Vivacom was put up for auction by its previous owner VTB Capital, the investment banking arm of Russia’s VTB bank , after an indirect holding company of Vivacom defaulted on a 150 million euro bridge financing loan last May.
Roussev, a real estate investor with experience in the telecoms sector, paid 330 million euros for Vivacom and agreed to take on 400 million euros of debt, meaning the implied price of Vivacom was 730 million euros.
Bulgaria’s biggest telecoms operator by revenue has had financial difficulties due to its association with fugitive businessman Tsvetan Vassilev, who has been charged with embezzlement relating to the collapse of the country’s fourth-largest lender Corporate Commercial Bank.
Full content: Novinite
Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.
Featured News
EU Brands Apple’s iPadOS as Gatekeeper in Tech Crackdown
Apr 29, 2024 by
CPI
Brussels to Investigate Meta Platforms’ Handling of Disinformation on Facebook and Instagram
Apr 29, 2024 by
CPI
OpenAI Faces Privacy Complaint in Vienna Over ChatGPT’s Data Handling
Apr 29, 2024 by
CPI
EU Launches Investigation into Czech State Aid for Digital TV Operators
Apr 29, 2024 by
CPI
UK Probes Lindab’s Acquisition of HAS-Vent Amid Fears of Market Monopoly
Apr 28, 2024 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – Economics of Criminal Antitrust
Apr 19, 2024 by
CPI
Navigating Economic Expert Work in Criminal Antitrust Litigation
Apr 19, 2024 by
CPI
The Increased Importance of Economics in Cartel Cases
Apr 19, 2024 by
CPI
A Law and Economics Analysis of the Antitrust Treatment of Physician Collective Price Agreements
Apr 19, 2024 by
CPI
Information Exchange In Criminal Antitrust Cases: How Economic Testimony Can Tip The Scales
Apr 19, 2024 by
CPI