VIVACOM (Bulgarian: VIVACOM), previously named Bulgarian Telecommunications company (BTC) is the largest telecommunications company in Bulgaria and a former state-owned monopoly. Founded as a joint stock company in the end of 1992 as part of the separation of Bulgaria's post and telecommunication services into separate companies, it serves 2.6 million fixed phone lines and employs about 10,000 people.
In June 2004, 65% of the BTC were sold to Viv...
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VIVACOM (Bulgarian: VIVACOM), previously named Bulgarian Telecommunications company (BTC) is the largest telecommunications company in Bulgaria and a former state-owned monopoly. Founded as a joint stock company in the end of 1992 as part of the separation of Bulgaria's post and telecommunication services into separate companies, it serves 2.6 million fixed phone lines and employs about 10,000 people.
In June 2004, 65% of the BTC were sold to Viva Ventures, owned by Advent International, for €280 million (about 380 million U.S. dollars). As part of the deal, BTC was provided a GSM operator license and launched Vivatel, Bulgaria's third GSM operator, in 2005. An UMTS license was additionally purchased in May 2005. In May 2007, the company was sold again. AIG Investments purchased both BTC and the third Bulgarian mobile operator, Vivatel for total price of €1,661 billion.. When AIG ran into financial trouble, it sold its asset management business to Pacific Century Group.
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