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Financial boost for Bulgarian DTT -
Financial boost for Bulgarian DTT
By Chris Dziadul
April 8, 2010 09.28 UK
Bulgaria’s Vivacom has sold 50% of the national transmission company NURTS to the private investor Mancelord Limited.
The deal, which is reported to be priced at between €50-60 million, has been submitted by Vivacom, otherwise known as the Bulgarian Telecommunications Company, to the Communications Regulatory Commission (CRC) for approval.
Following its closure, NURTS, hitherto part of Vivacom, will become a 50/50 joint venture between BTC and Mancelord.
NURTS has over 800 transmitters throughout Bulgaria and has been developing an experimental DTT multiplex in the capital, Sofia, since 2006. By securing Mancelord as an investor, it will be in a stronger position financially to develop the country’s digital TV infrastructure.
Mancelord is represented in Bulgaria by Bromak, itself the majority shareholder in Bulgaria’s Corporate Commercial Bank.