Bulgaria's Mobiltel Acquires Cable Operator Blizoo

Business | July 29, 2015, Wednesday // 13:12
Bulgaria: Bulgaria's Mobiltel Acquires Cable Operator Blizoo

Telekom Austria Group on Wednesday announced its Bulgarian subsidiary Mobiltel has agreed to acquire 100% of Blizoo Bulgaria from Swedish EQT group.

"The acquisition of blizoo is another step to further develop our challenging Bulgarian market. We see a huge growth potential together with Mobiltel in the strongly rising fixed-line segment, which will be ultimately beneficial for our Bulgarian customers," Alejandro Plater, CEO Telekom Austria Group as of 1st of August 2015, is quoted as saying in a press statement of the company.

Harald R?sch, CEO at Blizoo Bulgaria, for his part says that in combination with Mobiltel, his company "will be able to  offer the full four-play service spectrum to our customer base and this also offers great opportunities for further growth."

Mobiltel (which in Bulgaria has been known for years under the brand "Mtel") is the country's largest telecom. For some time has also been offering fixed-line services, and after purchasing Blizoo will be able to develop further in the segment.

Details about the purchase price will not be released for the moment. The closing is expected for Q4 2015.

Covering a total of 1.3 million households (in a country of slightly over 7 million people), Blizoo is Bulgaria's second-largest fixed-line operator, with 8% share in the fixed broadband and 11% share in the TV market. 

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Tags: Mobiltel, Blizoo, Telekom Austria Group
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