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SOFIA (Bulgaria), February 19 (SeeNews) - Bulgarian-American Credit Bank (BACB) [BUL:5BN] told SeeNews on Tuesday that it is seeking anti-trust approval to set up a joint venture (JV) with the Bulgarian Telecommunications Company (BTC), which operates under the Vivacom brand.
BACB did not say what would be the new company's scope of business activity.
According to data published on the Commission for Protection of Competition website, on Tuesday the regulator launched a procedure to study the effects of a planned deal between the two companies.
The procedure launched by the anti-monopoly commission does not concern the acqusition of a stake in BACB by BTC or vice versa, Neli Markova, head of BACB's marketing and communications department, said in response to a SeeNews enquiry.
No further details were immediately available.