Bulgaria’s Commission on Protection of Competition (CPC) has approved the acquisition of Vivacom’s tower business by Saudi Arabia’s TAWAL.
Capital adds that the transaction, first announced in April, was contested by Yettel Bulgaria on the grounds that there were still unfinished proceedings with respect to the sale of Bulsatcom to a subsidiary of United Group, which also owns Vivacom.
As previously reported by Broadband TV News, four months ago United Group reached an agreement to sell 100% of its mobile tower infrastructure unit in Bulgaria, Croatia, and Slovenia to TAWAL, a subsidiary of stc Group, for a total of €1,220 million.
The transaction is the first investment made by TAWAL in the European telecoms sector. It is the largest integrated ICT infrastructure provider in the MENA region and owns a portfolio of more than 16,000 mobile towers.