The leading Bulgarian operator Mobiltel has signed pre-arrangements for the acquisition of two Bulgarian cable operators, Megalan Network and Spectrum Net.
The price of the merger is about EUR 70 M. The deal is expected to be finalized after approval by the Competition Protection Commission.
M-Tel, which is part of Telecom Austria Group, will acquire 100% of the two Internet providers. However, both companies will continue to work independently for a period of about 18 months.
"This is a strategic step which will allow Mobiltel to strengthen its position of an integrated telecom operator and will provide our growth on the already existing market," said Andreas Maierhofer, CEO of M-Tel.
News source: Novinite.com link: article
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