BULGARIAN TELECOMMUNICATION COMPANY HAS A NEW OWNER

According to the official announcement of VTB Capital, the company Vival Telecom, led by the Bulgarian business man Spas Roussev is the new majority shareholder and owns 46% of the telecom.

Now 20% of the Bulgarian Telecommunication Company is owned by VTB, 19% by the company controlled by the brother Milen and Georgi Velchevi and Krasimir Katev. The rest is owned by former creditors.

The sale was completed on 30th of August.

Spas Roussev, backed by VTB Capital, placed the winning bid of EUR 330 million for the company, which is significantly higher than the initial price of EUR 180 million, the VTB announcement says.

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