The Russian bank VTB is set to become a shareholder in the Bulgarian incumbent Vivacom (BTC).
Kommersant reports that VTB was one of the members of a consortium of investors that last year won the auction to take on Vivacom’s debt.
Quoting a source close to the current deal, it adds that the bank will now receive a 20% minus one share stake in Vivacom, with Viva Telecom holding 46%, Delta 19% and minority shareholders 15% plus one share.
Vivacom has changed hands a number of times in the last few years and as of the end of Q1 was owned by V Telecom investment.
This, through InterV, held 100% of the capital of Viva Telecom Bulgaria, Vivacom’s parent company.
V Telecom investment listed LIC Telecommunications (43.3%) and Crusher Investment Limited, owned by VTB (33.3%), as its main shareholders.
