Vivacom sale off – for now

The sale of Bulgaria’s Vivacom has fallen through, with its creditors having rejected the offers of all three bidders, headed by the leading Turkish mobile operator Turkcell.

According to Novinite, it is now unlikely to be put back on the market for the next year or two, with the creditors in the meantime restructuring the company’s debuts and running it themselves.

Turkcell was reported to have put in a bid of over €870 million for the telco, only for the deal to collapse after the Turkish company asked for between €100 million and €200 million to be deposited in an escrow account until the state settles its scores with previous Vivacom owners.

Vivacom’s interests include a DTH platform named Vivacom TV.