Company Tear Sheet
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115I Tsarigradsko Shose Blvd.
Sofia; Sofia - city; Map
Postal Code: 1784
Tel: +359-2-949-, +359-0700-17-
In June 2004, Bulgarian authorities sold 65% in BTC to a group of investors led by U.S. private equity fund Advent for EUR 280 million. As part of the sell-off deal, BTC was granted a mobile phone licence and Advent has started developing a third GSM network in the country, which was launched in November 2005. The remaining 35% stake in BTC was listed on the Bulgarian stock exchange at the end of January 2005.
BTC bought in February 2005 the 49% stake in local analogue mobile operator Mobikom held by Cable & Wireless for EUR 10.5 million. A week later, BTC gained full control of Mobikom after acquiring the 12% held by the state.
In April 2005, BTC was granted a licence to operate a third-generation network for the price of BGN 42 million.
In December 2005, Icelandic tycoon Thor Bjorgolfsson bought an option for 65% in BTC from Advent International. Landsbanki Luxemburg, controlled by Bjorgolfsson, expanded its ownership in the telecom to 13.38% from 8.39% after operations on the local stock exchange in March 2007.
In April 2007, AIG Global Investment Group (AIGGIG), through its company AIG Capital Partners, Inc., agreed to buy Bjorgolfsson’s 65% stake in BTC for EUR 1.08 billion. In August AIG completed the acquisition of a 90% in BTC for EUR 1.4 billion via two transactions on the local stock exchange. In late October 2007, AIGGIG launched a buyout bid for BTC through its unit Nef Telecom Bulgaria. The company offered to pay BGN 11.30 (EUR 5.76) for each of the 28.66 million shares in BTC it does not own yet. A month later, AIGGIG acquired less than half of the BTC's outstanding shares it was targeting.
In September 2009, BTC and mobile operator Vivatel merged in a new structure under the Vivacom brand. The new company offers fixed-line and mobile services as well as internet access.
In 2013, Viva Telecom Bulgaria, owned by local Bromak and VTB bank, became the sole owner of the company and it was delisted from the local stock exchange.
Bulgarian Telecommunications Company AD (BTC) is the country's former state telecoms monopoly. The company offers a wide range of telecommunications services - mobile and fixed voice services, fiber optic Internet, digital interactive TV, data transfer. Bulgarian Telecommunications Company has more than 4 million customers and operates a network of over 230 shops throughout the country.
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