Bulgaria’s Vivacom completes sale

Bulgarian telco and pay TV operator Vivacom has been acquired by newly registered company Viva Telecom Bulgaria.

NEF Telecom has sold its 93.99% stake in the telco following the receipt of regulatory approval to Viva Telecom, a consortium that includes Russia’s VTB Capital and Hungary’s Corporate Commercial Bank.

Under the terms of the deal, worth €130 million, Vivacom’s debt has been reduced to €588 million from approximately €1.7 billion.