May 10 (SeeNews) - Bulgarian Telecommunications Company (BTC), which operates under the brand name Vivacom, said on Monday that it agreed to acquire 100% interest in local cable operator Networx-Bulgaria.
The deal is subject to approval by the respective regulatory authorities and is expected to be completed in the second quarter of 2021, BTC said in a statement.
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With the new acquisition, BTC will combine its experience with the well-developed network of Networx-Bulgaria, to provide access to new technologies for even more users, the telecommunications company said.
The value of the deal was not disclosed.
Networx-Bulgaria offers internet and television access to private clients, as well as a number of services to business clients, including video surveillance, co-location of equipment, IT services and cloud services. The operator is present in northern Bulgaria as well as in Sofia, BTC said.
According to commercial register data, Ruse-based Networx-Bulgaria, established in 2014, is currently owned by private individual Svilen Maksimov.
At the end of April, BTC wrapped up the acquisition of 100% shareholding interest in local internet providers Net1 and ComNet Sofia, as well as in cable operator N3 as part of its strategy to expand its fixed services coverage. BTC was acquired by Dutch-registered telecommunications services and media provider United Group last year.