United Group has completed the acquisition of the Bulgarian incumbent telco Vivacom.
In a statement, it says that this follows the approval of the deal by the European Commission in April 2020 and the signing of the agreement in November 2019, when United Group won the tender to acquire the company.
Commenting on the development, Victoriya Boklag, United Group CEO, said: “Vivacom established its number one position in Bulgaria with excellent management, impressive financial results, technological advancements, and remarkable team collaboration. With a clear vision and strategy for the future, United Group has acquired another market leader in the region”.
Atanas Dobrev, CEO of Vivacom, added: “For Vivacom, joining the United Group family is a huge opportunity to accelerate the excellent results achieved so far in the Bulgarian market. It is the right time to take the next step and we look forward to working and sharing our collective experience with United Group to take our services in Bulgaria to the next level”.
United Group says that this marks the latest milestone in its growth strategy, following on from the acquisition of Tele2 Croatia earlier this year and upcoming completion of the acquisition of Greece’s Forthnet.
