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EQT acquires Bulgarian cable operators

Swedish private equity form EQT has acquired Bulgarian cable operators CableTEL and Eurocom and is set to merge the two.

The investment fund, which also owns German cabler Kabel BW, has paid more than €200m for 100% of Eurocom from US private equity firm Warburg Pincus and 70% of CableTEL from US businessman Gene Phillips. The new company has been approved by the Bulgarian competition commission and will expand its services in Bulgaria and Macedonia.