By Atanas Bostandjiev of VTB Capital
This week’s announcement that a consortium led by VTB Capital, the investment banking arm of VTB Group, has completed the acquisition of Vivacom, one of Bulgaria’s leading telecoms operators, is a clear sign of the opportunity frontier markets still offer investors.
The sale of Globul, Bulgaria’s second-biggest mobile phone company, looks almost certain to go ahead and could be a defining moment for a market in transition.
Greece’s Hellenic Telecommunications Organisation (OTE) told beyondbrics it was “exploring the potential sale of its fully owned subsidiaries Globul and Germanos Telecom Bulgaria [a telecoms retailer] and intends to initiate the relevant procedure”. The statement, by OTE spokeswoman Sofia Marinou, confirms regional press reports that OTE was looking to offload Globul.