Netherlands-based United Group appeared to have won the race to acquire Bulgarian operator Vivacom, which was put up for sale in July following a lengthy ownership battle.
Financial Times (FT) reported United Group could finalise a takeover within a fortnight, though Bulgarian weekly Capital stated it was already a done deal. FT stated Vivacom was expected to be valued at around €1.2 billion.
The newspaper in September reported United Group was one of two companies which submitted indicative bids for Vivacom, alongside Providence Equity. The deal would strengthen United Group’s presence in the Balkans, adding to operations in Serbia, Bosnia and Herzegovina, Macedonia, Montenegro and Slovenia.
United Group is majority owned by UK private equity company BC Partners, with KKR holding a minority stake. The operator has acquired about 100 companies in the Balkans, FT stated.
If the deal is finalised, it would mark the sixth change of Vivacom ownership since it was privatised in 2004.Subscribe to our daily newsletter Back