BC Partners and Providence Equity Partners Inc. are making a play for Bulgarian telecom operator Vivacom, Broadband TV News reported, citing sources mentioned by Capital.
Ten investors expressed interest in buying Vivacom, but the telecom operator has so far received three binding offers and one did not meet the requirements.
BC Partners, which is making an offer through media and communications services provider United Group BV, and Providence Equity Partners reportedly have until mid-October to submit their binding bids for Vivacom.
Vivacom was put up for sale amid a legal ownership dispute of the company. A consortium led by Bulgarian businessman Spas Roussev bought the telco for €330 million. However, Russian businessman Dmitry Kosarev, who owned a stake in a Luxembourg-based holding company that previously owned Vivacom, said the sale was done at a low price.
