Private Equity Firm Mid Europa Buys Bulgarian Pay TV Operator ITV for Undisclosed Sum

“The acquisition of ITV secures a foothold in the Bulgarian pay TV market and is a follow-on acquisition that builds on our already established pay TV footprint (including cable and DTH operators) across South Eastern Europe, which is in line with our investment strategy,” Stefan Tzvetkov, Associate Director of Mid Europa, who led the transaction, said in a statement posted on the equity firm's website on Friday.

ITV provides a pay TV service under the ITV Partner brand to approximately 80,000 subscribers in Bulgarian capital Sofia and across the country.

Mid Europa's cable and broadband portfolio in southeast Europe also includes Serbia Broadband (www.sbb.rs), which offers a variety of cable TV, Internet and DTH services in the Adriatic region, and Slovenian cable TV and broadband operator Telemach (www.upc.si).

($=0.6763 euro)