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Sep 01, 2023 13:16 EEST
September 1 (SeeNews) - Bulgarian mobile and broadband services provider Vivacom, part of Southeast Europe-focused United Group, said that it has completed the acquisition of local cable TV and internet provider Networx Group.
Through the deal, Vivacom has gained ownership of Ruse-based fiber-to-the-building (FTTB) provider Networx-Bulgaria and affiliates Online Direct, TVN Distribution Bulgaria and Telco Infrastructures, the buyer said in a press release on Thursday.
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The transaction was cleared by the Bulgarian competition authority in July, after an in-depth enquiry. Clearance was also granted to the purchase of regional internet and television provider Telnet and subsidiaries Telnet Security and STV, based in Veliko Tarnovo. Vivacom closed the acquisition of the Telnet group in mid-July.
At the time, Vivacom rivals A1 Bulgaria and Yettel Bulgaria voiced concerns over the potential for the deals to create a dominant market position for Vivacom in Bulgaria.
For its part, Vivacom rejected the other two mobile and broadband operators' arguments, stating that it held a 31% share of the fixed broadband market and 33% of the pay TV market in Bulgaria in terms of subscriber numbers, compared to a share of 28% of A1 Bulgaria and 35% for regional and local market players.
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