The Bulgarian entrepreneur Spas Rusev is reported to be close to buying Bulsatcom, the country’s leading pay-TV operator.
Quoting three independent sources, Capital adds that he submitted an offer of over €120 million for the company in an auction held by its investors in which PPF Group also took part.
The investors want to sell Bulsatcom as creditors and funds have been trying to recover its debts for the last 1-2 years.
Rusev is undertaking the transaction through Viva Corporate Bulgaria, itself owned by Luxembourg-registered Viva Corporate, of which he was a shareholder when it was established in 2016.
Last year Rusev sold the Bulgarian incumbent Vivacom (BTC) to United Group.
