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Three potential buyers bid for Bulgaria´s Vivacom

BulgariaPosted by Uvner Business Consulting Sun, November 15, 2015 13:51:51

Three potential buyers have placed binding bids for Bulgaria’s Vivacom by Thursday’s deadline as reported by the Sofia news agency novinite.com.
One of the candidates is Greece’s Olympia group backed by U.S.-based hedge fund firm Third Point. Olympia is controlled by Panos Germanos, the company's founder and main shareholder. Third Point LLC is an investment adviser based in New York and founded by Daniel Loeb, who serves as its CEO.

The second offer was submitted by Marc Schneider, co-founder of European cable group UPC, financially backed by U.S.-based private equity fund CVC.

The third candidate is Bulgarian-born and UK-based entrepreneur Spas Roussev. His offer is expected to be financially backed by VTB Capital, the investment-banking arm of Russia's second-largest bank VTB.

VTB Capital is currently a security agent for a EUR 150 M bridge loan to Luxembourg-based InterV Investment, the indirect holding company of the largest telecommunications company by revenue in Bulgaria. The funding was secured via a Luxembourg share pledge over 100% of the shares in Vivacom owned by InterV Investment.

An auction will be held in London next Thursday for 100% of the shares of InterV Investment, which defaulted on loan repayment at the the maturity of the financing in May 2015.
Read more in novinite.com.



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Posted by Hellqvist Consulting Sun, November 15, 2015 20:26:21

Telecom has never been as strategic business as today