AIG Investments has completed the acquisition of a 90% stake in the incumbent Bulgarian telco BTC. According to a statement released by the company, its subsidiary AIG Capital Partners now has control of the BTC, the value of the entire equity being put at €1.661 billion. The Icelandic entrepreneur Thor Bjorgolfsson previously held a majority (65%) stake in the telco, with unnamed interests owning a further 25%. Both now belong to AIG, which aims to also acquire the remaining stake in BTC. AIG has said it aims to invest up to €700 million in the telco over the next five years.