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VTB Eyes Bulgaria Company

VTB Capital is considering the acquisition of Vivacom, Bulgaria's biggest fixed-line phone company, together with the Sofia-based Corporate Commercial Bank, said Atanas Bostandjiev, chief executive of VTB Capital.

"We are looking at the deal in partnership with the Corporate Commercial Bank," Bostandjiev said late last week. "It is a very complex transaction, and it is too early to say anything more specific."

Vivacom is majority-owned by PineBridge Investments, Hong Kong businessman Richard Li's investment-management firm. Vivacom breached terms on 1.6 billion euros ($2.1 billion) of loans a year ago, which led to its sale.

(Bloomberg)

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