Southeast European cable and pay TV provider United Group BV is close to reaching a deal to buy Bulgarian telecom operator Vivacom, London's Financial Times reported, citing sources.
The BC Partners-backed company's bid for Vivacom is reportedly near the latter's expected value of about €1.2 billion, based on recent telecom deals in the Balkan region. An agreement could be signed in the next two weeks, although it may not push through.
Earlier reports said Providence Equity Partners Inc. is also making a play for Vivacom, which 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.
United Group in May agreed to buy the Croatian operations of Swedish operator Tele2 AB for €220 million.