2 Investors Vie for Bulgaria's Globul

Business | April 19, 2013, Friday // 13:31
Bulgaria: 2 Investors Vie for Bulgaria's Globul File photo

Two investors are bidding to buy Bulgarian mobile operator Cosmo Mobile (Globul), according to a report.

It was made clear on Thursday that one of the bidders is Turk Telekom. The Turkish company made the announcement that it had placed binding bids to acquire Cosmo Mobile and electronic appliance retailer Germanos Telecom Bulgaria in a statement to Istanbul stock exchange.

The Bulgarian Capital Daily has now reported that the other bidder is likely one of the following: Telenor, Turkcell or Deutsche Telekom.

The auction is set to take place on Friday 19 April 2013.

Globul accounts for about 7% of OTE's sales and about 9% of earnings before interest, tax, depreciation and amortization (EBITDA).

In Bulgaria, Globul competes with Telekom Austria Mobiltel and Vivacom, recently acquired by Bulgarian banker Tsvetan Vasilev, and Russia's VTB Bank.

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Tags: Vivacom, Mobiltel, telco, telecom, telecoms, telecommunications, Globul, OTE, Turk Telekom, Turkcell, Telenor, Deutsche Telekom
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