Two Hong Kong Cos Mull 180 Mln Euro Rescue Plan for Vivacom

Two Hong Kong Cos Mull 180 Mln Euro Rescue Plan for Vivacom

Hong Kong-based telecoms group PCCW and its chairman's privately-owned equity fund PineBridge are considering investing 180 million euro ($232 million) to rescue Bulgaria's biggest telco, Vivacom, in return for a 51% share in the debt-laden business, Reuters reported on Wednesday.The executive director of PCCW Alex Arena met Vivacom's senior lenders - Royal Bank of Scotland (RBS) and Deutsche Bank, on June 22 to discuss the deal, but it remained unclear how much PCCW would invest in it, Reuters reported, quoting the South China Morning Post, which cited people with direct knowledge of the meeting.

RBS and Deutsche Bank are currently evaluating the offer, Reuters quoted unnamed sources familiar with the situation.

 

 

 

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