Article Side

Online Article Directory!

Hello Guest! Login or Register to submit articles!

Russia VTB targets at a major stake in Bulgaria Telecoms firm

By Look Right Subscribe to RSS | March 5th 2012 | Views:

In its joint bid with Bulgaria’s Corporate Commercial Bank, VTB has planned to participate only as an investor and not interested in taking it over wholly. On 1st march, head of VTB Capital’s international business, Atanas Bostandjiev announced that VTB Capital, owned by VTB Bank of Russia, which is the investment arm of Russia’s second-biggest lender, has shown its interest in buying a stake in Bulgaria Telecom operator Vivacom. As it is considered that Vivacom is running into debt and Morgan Stanley, in support, is arranging a restructuring deal for them by placing a joint bid with its alliance Bulgaria’s Corporate Commercial Bank. Atanas Bostandjiev declared that they have placed their preliminary offer to deal as a financial investor and are actively following the process. Although, the process is bit complicated, but he believes that there should be some improvement in the coming month. Meanwhile, Turkcell which is the biggest mobile phone company of Turkey was initially interested in Vivacom has decided to stay out of it as of now.

Atanas Bostandjiev also clear that the VTB Capital’s plan is to only participate as an investor but not interested in managing and running Vivacom wholly. And, when asked about the kind of stake they are looking for, he confirmed that VTB Capital and Corporate Commercial Bank are interested in some majority stake or at least managing stake with blocking minority rights and nothing lesser than that. Vivacom is a well known trade name of the Bulgarian Telecommunication (BTC) which is controlled by the PineBridge Investments of Hong Kong telecom and media tycoon Richard Li. Before the PineBridge was named, it was earlier owned by an asset management arm of insurer AIG.

When Vivacom was clamped with a 1.65 billion Euro loan after it was bought by AIG in 2007. Some major banks like Royal Bank of Scotland, Deutsche Bank, UBS and Bank of Austria and some others came forward with their support and arranged the debt for Vivacom. That too even did not work so fruitful and Vivacom remained running into more debt. And due to discontinued operations, Vivacom’s revenue declined from fixed services and lower retail prices and profit also dropped to 8.4 million levels from 115.7 million. Get loan at your footstep just apply at doorstep loans @ and get quick money you needed.

According to the Bulgarian Capital newspaper, Icelandic billionaire Thor Bjorgolfsson, who sold his call option in Bulgarian Telecommunication (BTC) to AIG in 2007 for 1.08 billion Euros and an investment fund Pamplona Capital Management, were also interested in Vivacom deal. Since creditors of Vivacom are trying to find the ways of restructuring its huge amount of debt, they are offered with mobile and fixed line telephony, as well as internet and TV series services by telecom operators for about 2.2 million customers in the Balkan Country.

Look Right - About Author:
Look Right is expert financial adviser. He writes articles on doorstep loans , and @

Share on Facebook Tweet It Stumbleupon this post This post is delicious !

Article Source:

Related Loans Articles Subscribe to RSS

Meet all small tasks with ease with short period online finance
Published by Sandra Jeux on March 1st 2012 | Finance
Now don’t bother about urgent cash you need at the time of emergency, apply online with easy short...
Tips on loans and finance investment
Published by Pramod Kumar Singh on May 23rd 2012 | Loans
There are different kinds of loans and different investment options. To know about each one you can ...
90 day loans bad credit-Great assistance of finance
Published by Galvin Colton on July 20th 2012 | Loans
If you are taking quick funds from 90 day loans bad credit, you can fight unexpected fiscal worries ...
Fast cash loans- Urgent needs of finance can be resolved
Published by Riyt Leson on April 13th 2012 | Loans
If you want to get quick funds up to $1500, you can apply fast cash loans so that you can fight agai...
Text loans - Get hassle free finance by sending a message via your cell
Published by Jack Cook on March 15th 2012 | Loans
Suffering from credit crunch, don’t bother just send a message to the cash providers and avail qui...
Solve many of your problems in a while through quick finance
Published by John Harry on February 18th 2012 | Finance
Easy finances through financers help an individual to fight with the devils of unexpected expenses. ...
Doorstep Loans No Credit Checks - Get simple finance with quick approval
Published by Rechard Thomas on January 7th 2012 | Loans
People have the freedom to use the amount received from doorstep loans no credit check. Doorstep loa...
Debtor finance – general considerations
Published by Adair Sawyer on May 11th 2012 | Finance
Many companies find themselves in the impossibility of further developing their business because the...
Avail finance online and help yourself to overcome the economic disaster
Published by John Martin on December 16th 2011 | Loans
Apply for finance online and save your precious time and get funds in hassle free manner at the comf...
Fly the tension and worries easy online finance
Published by Sandra Jeux on February 20th 2012 | Loans
Most of the people are deprived of finance because of negative credit ratings but now many financers...
12 MONTH LOANS FOR BAD CREDIT - Abrupt finance for unhealthy creditors without any restriction!!!
Published by Thom Lee on March 14th 2012 | Loans
12 month loans for bad credit may be a short term cash resolution against that you'll be able to get...
Personal loans for bad credit history avail the easiest mode to apply for finance.
Published by Moon Thomas on January 26th 2012 | Loans
Now it is very easy to get loans for people with bad credit score. We offer a convenient loan for yo...
Faxless Payday Loans Online: an ideal for short term finance
Published by Elissasmith on June 29th 2012 | Loans
Faxless Payday Loans Online is ideal to meet cash needs of short duration. We all have to face some ...
No Credit Check Loans- Raise finance immediately without credit check
Published by Serjeant Doherty on March 20th 2012 | Loans
No credit check loans are boon for those who are suffering from multiple bad credit problems. With t...
Apply for finance and meet your financial problems with ease
Published by King Loothar on December 15th 2011 | Loans
When people are in financial crunch then only way out for them is borrow funds from financer. And re...
Secured loans against logbook: smart way of obtaining finance!
Published by Scarlette Riley on February 8th 2012 | Loans
Secured loans against logbook are mainly designed for borrowers, having a vehicle’s logbook on the...
Overcome the economic disaster through online finance
Published by Jack Paul on January 4th 2012 | Loans
There is lots of fantastic way of getting funds through online method which saves the precious time ...
Acquisition of helpful funds at the home via online finance
Published by Look Right on March 12th 2012 | Loans
Now the cash is available at your footsteps and you can acquire funds by sitting at your home and me...
Borrow £500 over 6months – providing finance without any paperwork
Published by Aadam Abbas on July 20th 2012 | Loans
Borrow £500 over 6months assist you to pick that exact finance theme that may be helpful to you in ...
Avail quick finance for settling unavoidable expenses
Published by Perter Clove on December 20th 2011 | Loans
Many financer provides instant funds without concerning about your past finance history, due to whic...