Bulgarian telecoms operator Vivacom has sold its remaining 50 per cent stake in rebroadcasting subsidiary NURTS to Dubai-based Bluesat Partners for 57 million euro, the telco said in a statement to the Bulgarian Stock Exchange (BSE) on July 20.
“The deal is part of our strategy announced a year ago,” Vivacom’s CEO Bernard Moscheni told Bulgarian daily newspaper. “Then we said that we plan to offload in up to 12 months our remaining stake in NURTS at the same the price at which the deal in 2010 was agreed – 57 million euro,” he said.
Following the purchase, Bluesat Partners joins the company which plays a key role in the planned switchover to digital broadcasting.
NURTS is a key player in local terrestila analogue signal distribution, covering nearly all of Bulgaria with its network of radio and television broadcasting services. It has a key position on the analogue broadcasting market through its network of TV towers and retranslation facilities covering the entire territory of the country and transmitting the programmes of the major TV and radio operators.
NURTS Bulgaria owns Sofia-based Towercom Bulgaria, which in turn has licences to build and operate two digital multiplexes in the country.
The deal with Bluesat Partners Ltd now has to be approved by the antitrust authorities.