February 24 (SeeNews) - Bulgarian Telecommunications Company (BTC), operating under the brand name Vivacom, said on Wednesday that it will acquire Plovdiv-based cable operator N3.
The deal is subject to regulatory approval, with a decision expected to be issued later this year, BTC said in an e-mailed statement.
You can subscribe to our M&A newsletter here
N3 offers digital TV and broadband internet access in Bulgaria's second-largest city of Plovdiv.
N3 grew its net profit to 1 million levs ($620,300/511,300 euro) in 2019 from some 547,000 levs a year earlier, as its revenue increased to 7.1 million levs from 6.2 million levs in 2018, according to the company's most recent financial report published on the website of the Commercial Register.
Earlier this month, BTC said that it will acquire internet providers Net1 and ComNet Sofia in line with its strategy to offer single telecommunications services packages covering all the needs of its consumers. The transactions have not yet received regulatory approval.
BTC was acquired by Dutch-registered investment company United Group last year.
(1 euro = 1.95583 levs)