Swedish investor EQT Funds Management is in the process of acquiring Bulgarian cable TV and internet provider Eurocom Cable Management, after government regulators gave their approval to the transaction. Should the deal be completed, acquisition will be made via EQT’s managed fund, EGT V Ltd., which earlier acquired CableTEL.
Hoping to allay fears of stifling competition, Bulgaria’s Commission for Protection of Competition believes the development and modernization of telecom services in the country outweighs the possible effects the deal may have on other companies and spur future growth in the industry.
Eurocom Cable Management Bulgaria (www.ekk.bg)
Eurocom Cable Management is a Bulgarian telecom company offering digital, cable and HD TV, cable internet, and digital phone service. Corporate customers also have access to virtual private network (VPN) services and radio retransmission through the company’s digital network. Founded in 2001, Eurocom is based in Sofia and employs more than 200 people.
EQT Funds Management (www.eqt.se)
EQT is comprised of a group of nine active funds all managed by EQT Partners. Since the firm’s inception in 1994, it has raised some EUR 13 billion and invested more than EUR 7 billion. With offices in Europe, Asia, and North America, EQT employs more than 200 people in 10 different countries.
August 5, 2009
Investment, Private Equity News, Sweden