Three parties have submitted bids for the Bulgarian incumbent Vivacom.
The first, according to Novinite, quoting Capital, is Greece’s Olympia group, backed by the US-based hedge fund Third Point. The former is controlled by Panos Germanos, its founder and largest shareholder.
The second is the UPC co-founder Marc Schneider, who is backed by the private equity fund CVC.
The third is the entrepreneur Spas Rossev, who is likely to be backed by VTB Capital, the investment banking arm of VTB, Russia’s second largest bank.
Bids from all three were submitted in time for the deadline, which passed on November 12.
VTB Capital is currently a security agent for a €150 million bridge loan to Luxembourg-based InterV Investment, Vivacom’s indirect holding company.
An auction will be held in London on November 19 for 100% of InterV Investment, which defaulted on loan repayments earlier this year.
