Bulgarian telecommunications company seeks antitrust deal to buy local Telnet
SOFIA (Bulgaria), January 12 (SeeNews) – Bulgaria’s competition regulator said on Wednesday that the Bulgarian Telecommunications Company (BTC), operating under the Vivacom brand, is seeking permission to acquire 100% of local company Telnet .
Under the terms of the planned deal, BTC will also acquire indirect control of Telnet subsidiaries Telnet Security and STV, the Commission for the Protection of Competition (CPC) said in a statement.
According to a notification submitted to the regulator, the transaction is expected to affect the local retail fixed internet, wholesale TV broadcasting, retail TV distribution and line rental markets.
Interested parties have until January 19 to file statements regarding the deal with the regulator.
Last month, BTC announced that it had reached an agreement to acquire a 100% stake in Telnet. With this new acquisition, BTC will combine its experience in maintaining and offering telecommunications services with Telnet’s well-developed local infrastructure to provide access to new technologies to even more customers, he added.
Telnet offers Internet and television access to private customers, as well as a number of services to business customers, including metropolitan area network (MAN) services, hosting, colocation as well as individual projects for the construction of cable systems. The operator offers its services in the regions of Veliko Tarnovo, Ruse and Gabrovo.
According to data from the commercial register, the individual Ventsislav Stoev owns 33.5% of the capital of Telnet. Dimitar Velev controls 33.3%, while Ventsislav Petrov and Todor Neshev hold shares of 16.58% each.
In July, the Bulgarian competition authority gave the green light to BTC to acquire Networx-Bulgaria, TVN Distribution Bulgaria and Telco Infrastructures, as well as to exercise indirect control over Online Direct. Earlier in 2021, BTC completed the acquisition of 100% shares of local internet providers Net1 and ComNet Sofia, as well as cable operator N3 as part of its strategy to expand its coverage of fixed services.
BTC was acquired by Dutch-registered telecommunications services and media provider United Group in 2020.
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