United Group has been cleared by the European Commission to acquire Bulgarian operator Vivacom.
With the commission satisfied that the deal will not create issues around competition in the market, United Group will become the sole controller of Vivacom’s parent firm, Viva Telecom Bulgaria.
The EC concluded that a lack of competition was unlikely considering the “very limited increase in the merged entity’s market position and the presence of several other players in the market of retail supply of pay-TV services.”
Vivacom began inviting buyout offers in July 2019, but it was four months before United Group confirmed the sale. The group described Bulgaria as “an attractive market” that would strengthen its footprint in the region. It is now present in seven countries across Southeast Europe.
Headquartered in the Netherlands, United Group’s majority shareholder is BC Partners, a UK-based private equity company. On subscriber number’s, Vivacom is Bulgaria’s second biggest operator.
The final sum has not been officially stated by the Financial Times has reported Vivacom’s value at around €1.2 billion.