Bulgaria’s Communications Regulatory Commission (CRC) has given the go-ahead for the sale of a 50% stake in the national transmission company NURTS to the Cyprus-based financial investor Mancelord for an undisclosed fee.
According to Novinite, the regulator delayed its decision twice on the deal and, along with the Competition Protection Commission (CPC), has come in for strong criticism for not sufficiently investigating who is behind it.
The sale of a 50% stake in NURTS by the incumbent telco Vivacom (formerly known as BTC) was first announced in April.
NURTS plays a key role in Bulgaria’s TV industry and aims to become the operator of its public service DTT multiplex.
Mancelord is represented in Bulgaria by Bromak, a leading shareholder in the Bulgarian Corporate Commercial Bank.