Bulgarian Telecommunications Company to acquire Net1, ComNet Sofia

Bulgarian Telecommunications Company to acquire Net1, ComNet Sofia

Bulgarian Telecommunications Company (BTC), which operates under the brand name Vivacom, said that it will acquire internet providers Net1 and ComNet Sofia.

The deal is part of the company's strategy to offer single telecommunications services packages covering all the needs of its consumers, BTC said in a statement on Friday.

The transaction is subject to regulatory approval, which is expected during 2021.

According to registry agency data, Net1 is fully-owned by local company ASME, while ComNet Sofia is 100%-owned by private investor Stoycho Stoychev.

BTC was acquired by Dutch-registered investment company United Group in 2020. United Group also completed the acquisition of Bulgarian multi-platform media company Nova Broadcasting Group last month, and is expected to wrap up the acquisition of Sofia-based publisher Telegraph Newspaper by the end of the first quarter.


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