DTB is Advising United Group in the Acquisition of the Telecom Operator Tele2 Croatia

On Friday, 31 May 2019, Tele2 AB Sweden agreed to sell its Croatian business to United Group for an enterprise value of EUR 220 million. The Croatian business is one out of the three telecom providers in Croatia with 897,000 subscribers. The transaction requires approval from the relevant regulatory bodies, including the Croatian Competition Agency and closing is expected before the end of 2019. United Group is a leading connectivity and media provider in South East Europe. It has the broadest network coverage in the region with 3.82 million subscribers and offers both local and international content. United Group has operations in six countries and employs around 4,400 employees. The transaction is considered to be one of the largest, if not the largest, M&A deal in Croatia this year.

Three SEE Legal Members Advise Link Mobility Group AS (Norway) on the Acquisition of Teracomm

Europe’s leading and fastest growing provider of B2C messaging services is expecting competition clearance in Bulgaria in order to proceed to the acquisition of South-Eastern European mobile messaging activities, currently owned by Allterco (a Bulgarian listed company) and operated under the brand “Teracomm”. Teracomm is among the leading providers of B2C messaging services in the region, offering sound technical solutions to respond to the business needs of its clients and partners.

BOYANOV & Co. and KALO & ASSOCIATES Completed the Deal for the Acquisition of Telekom Albania

BOYANOV & Co. and KALO & ASSOCIATES, members of SEE Legal, advised Albania Telecom Invest (ATI), a joint venture of the businessmen Mr. Spas Roussev and Mr. Elvin Guri, on the acquisition of Telekom Albania from Cosmote, Greece (part of the Deutsche Telekom Group). BOYANOV & Co. advised ATI on the entire deal – participation in a sales auction, legal due diligence, negotiation of the sale and purchase agreement, escrow agreement and set of other transaction documents, as well as negotiation of the financing for the deal from First Investment Bank. BOYANOV & Co. worked in close cooperation with KALO & ASSOCIATES, Tirana who advised the buyer on Albanian law related matters. The deal was completed on 7 May 2019.

VIVACOM is for Sale

Bulgarian Telecommunication Company EAD (BTC) is a Bulgarian telecommunication operator known by the trademark VIVACOM. VIVACOM owns the best developed network in Bulgaria and is a leader in the provision of modern telecommunication services. The company is the only telecom operator in the country that provides converged solutions through terrestrial, copper and satellite infrastructure, a mobile network and public internet. VIVACOM maintains the only networked international networking center in Bulgaria, the network management center and the largest real-time data storage and booking center.

BOYANOV & Co. Advises on the Financing of the Acquisition of Nova TV

BOYANOV & Co. advised the lenders of a EUR 100 million syndicated financing arranged by UniCredit Bulbank and BNP Paribas and a lending syndicate including them, DSK Bank and United Bulgarian Bank for the acquisition by Advance Media Group of Nova TV from MTG and EEMH. The deal was completed on 10 April 2019 in a record short period of time for a deal of this type (two and a half months from the start of the negotiations on the financing documents until closing of the financing).

Central European Media Enterprises Ltd. to Explore Potential Strategic Alternatives for the Company

Central European Media Enterprises Ltd. (“CME”) (NASDAQ/Prague Stock Exchange: CETV) announced on 25 March 2019 that its Board of Directors, working together with its management team and legal and financial advisors, has commenced a process to explore and evaluate potential strategic alternatives for the Company focused on maximizing shareholder value. The Board of Directors has formed a Special Committee comprised of independent directors to lead the process of reviewing the various strategic alternatives available. These may include, among other things, the sale of part or all of the Company, a merger with another strategic partner, a recapitalization, or continuing to execute on CME’s long-term business plan. AT&T Inc., CME’s largest shareholder, supports CME’s plan to review strategic alternatives.

Telecommunications Project in BiH

An EBRD funded project for the modernisation and upgrading of the telecommunications system of Elektroprijenos BiH, the Power Transmission Operator in Bosnia and Herzegovina. This project is important for the ongoing process of regional market integration and leads to improvements in cross-border trade and allocation of power transmission capacity. The total estimated costs of the project are around EUR 23.6 million.
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BOYANOV & Co. and KALO & ASSOCIATES Advised Albania Telecom Invest

BOYANOV & Co. and KALO & ASSOCIATES, members of SEE Legal, advised Albania Telecom Invest (ATI), a joint venture of Mr. Spas Roussev and Mr. Elvin Guri (a successful Bulgarian entrepreneur of Albanian origin), on the acquisition of Telekom Albania from OTE (Deutsche Telekom) for a total consideration of EUR 50 million. More specifically, BOYANOV & Co. advised ATI on the entire deal – participation in an auction organised by OTE, submission of a bid, legal due diligence (in cooperation with KALO & ASSOCIATES), negotiation of the sale and purchase agreement, escrow agreement and…

Bulgarian Telecommunications Company

Vivacom is the brand name of the Bulgarian Telecommunications Company, the largest telecommunications company in Bulgaria and a former state-owned incumbent operator. Vivacom is a fully integrated operator, providing mobile, fixed voice, fixed broadband and pay-TV (both DTH and IPTV) services on a nationwide scale to both residential and business customers. An M&A deal is expected in the next year or two.

BC Partners Pens Contract To Buy United Group From KKR

BC Partners, a leading international investment firm, signed an agreement to acquire a majority stake in United Group B.V. from KKR which is to remain a minority stakeholder. This is an important event on the South-East European market given that United Group provides broadcasting and distribution services to more than 1.8 billion customers in the region and employs over 3400 people. In its official statement, BC Partners expressed excitement about the transaction and commitment to further invest in United Group’s growth. The closing of the deal is subject to standard regulatory approvals. BDK…

A Bulgarian Operator Launched the First Ever Satellite for the Balkan Region

The Bulgarian pay-TV and broadband operator Bulsatcom launched in 2017 a geostationary communications satellite produced by the Space Systems/Loral (SSL) based in the Silicon Valley. The satellite costs around EUR 150 million and will enable Bulsatcom to provide DTH services directly to households in Southeast Europe. At least 60% of the capacity will be offered to other operators. This is the first ever communications satellite, which will serve specifically the Balkan region.

Telus International Europe Plans to Expand their Business in Bulgaria

The largest BPO company in Bulgaria, Telus International Europe, through its subsidiary Callpoint New Europe, plans to expand its personnel in Bulgaria by opening 2000 new jobs until the 2020. The Bulgarian unit of Telus Interantional Europe services nearly 50 international companies, primarily in the sectors of telecommunications and technology, digital services, logistics, tourism, IT, gaming and finance.