November 7, 2019 / 3:23 PM / a month ago

United Group agrees to buy Bulgaria's Vivacom

SOFIA, Nov 7 (Reuters) - Balkan telecoms and media company United Group, owned by BC Partners, said on Thursday it had agreed to acquire Bulgaria’s leading telecoms operator Vivacom for an undisclosed sum.

Vivacom was put on sale earlier this year and United Group was in exclusive talks to buy the telecoms company, whose enterprise value market sources have estimated at about 1.2 billion euros ($1.33 billion).

“The transaction is expected to close in the second quarter of 2020, subject to conditions, including receipt of applicable anti-trust approvals,” United Group, Vivacom and BC Partners said in a joint statement.

$1 = 0.9046 euros Reporting by Tsvetelia Tsolova; editing by David Evans

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