January 12 (SeeNews) - Bulgaria's competition regulator said on Wednesday that Bulgarian Telecommunications Company (BTC), operating under the Vivacom brand, is seeking approval to acquire 100% of local company Telnet.
Under the terms of the planned deal, BTC will also acquire indirect control of Telnet's subsidiaries Telnet Security and S.T.V., the Commission for Protection of Competition (CPC) said in a statement.
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According to a notification submitted to the regulator, the transaction is expected to affect the local markets for retail fixed internet, wholesale television broadcasting, retail television distribution and line rental.
Interested parties have until January 19 to file with the regulator their statements regarding the deal.
Last month, BTC said that it has reached an agreement to acquire 100% interest in Telnet. With the new acquisition, BTC will combine its experience in the maintenance and offering of telecommunication services with the well-developed local infrastructure of Telnet in order to provide access to new technologies for even more customers, it added.
Telnet offers Internet and television access to private clients, as well as a number of services for business customers, including metropolitan area network (MAN) services, hosting, colocation along with individual projects for construction of cable systems. The operator offers its services in the regions of Veliko Tarnovo, Ruse, and Gabrovo.
According to commercial register data, private individual Ventsislav Stoev owns 33.5% of the capital of Telnet. Dimitar Velev controls 33.3%, while Ventsislav Petrov and Todor Neshev own stakes of 16.58% each.
In July, Bulgaria's competition authority gave the green light to BTC to acquire Networx-Bulgaria, TVN Distribution Bulgaria and Telco Infrastructures, as well as to exercise indirect control of Online Direct. Earlier in 2021, 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 in 2020.