Bulgarian telecommunications company, Vivacom has completed the acquisition of Telnet, following backlash from local competitors, A1 Bulgaria and Yettel Bulgaria.
Telnet is one of the leading providers in Northern Bulgaria with over 110 settlements in the regions of Veliko Tarnovo, Gabrovo and Ruse. The operator offers services for private and business customers, as well as the development of individual solutions.
The deal was approved by the Commission for the Protection of Competition earlier this month which received criticism from A1 Bulgaria and Yettel Bulgaria. Both companies claimed the acquisition was a move from United Media Group to acquire control of Bulsatcom’s operations without notification to the CPC and under suspicion of some other legal infringements and urged the Bulgarian Commission to review its decision.
According to PPF parent company to Yettel, the acquisition will give Vivacom controlling close to 70% and 50% of the internet access market respectively in the region of Rousse and the regions of Varna, Razgrad, Silistra and Sofia City.
In response Vivacom called the statements made by A1 and Yettel Bulgaria an act of collusion against the company. With the allegations raised by the pair “wildly inaccurate”, “misleading” and inconsistent with the CPC’s findings.
Vivacom said the acquisition marks part of the company’s strategy to provide access to high-quality and innovative products and an improved customer experience to an increasing number of Bulgarian consumers.
“We are happy to welcome Telnet to our extended family. With the company’s team, we share one vision – providing innovative high-quality services, putting the customer first. I believe that together we can conquer new heights and continue to strengthen Vivacom’s strong position on the Bulgarian market,” said Nikolay Andreev, CEO of Vivacom.
A spokesperson for Telnet said, “This step will enable our existing customers to access an extremely rich variety of innovative products and services and an excellent customer experience for the whole family or business.”