Bulgaria Telecommunications Q1 2021
Bulgaria's telecoms sector is relatively developed and continues to perform in line with our forecasts. Operators arelooking to migrate customers from basic to premium services, such as 4G LTE, fibre and pay-TV and are preparing the launch of 5G.The mobile voice market is saturated, with mobile penetration having surpassed 140%, but there is still room for growth in the M2M,data and VAS segments. Despite an ongoing court battle around the ownership of Vivacom (with Dimitry Kosarev challengingVivacom's sale to Spas Roussev by VTB after a debt default in 2015), BC Partners' United Group agreed in November 2019 to buy thecompany for EUR1.2bn and received European Commission green light in April 2020. While Vivacom has changed owners then sixtimes since its privatisation, a United Group spokesperson characterised it as well-managed.
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