Novator Bids For Bulgaria's BTC - CEEMarketWatch

SOFIA -(Dow Jones)- Bulgarian telecommunications firm BTC said Thursday that Novator, an Icelandic company controlled by billionaire Thor Bjorgolfsson, has made an offer to buy BTC and its mobile phone arm, VivaTel, CEEMarketWatch reported Thursday.

BTC hasn't yet given details of the offer.

Last year, BTC was privatized in a deal that raised EUR250 million, but the price offered by Novator is likely to be more given the investments made in the company and the launch of Vivatel.

Bulgaria's telecom regulator is still to rule on the bid.

Bjorgolfsson has other investments in Bulgaria, controlling three of its four largest pharmaceutical plants through his company Pharmaco.

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Posted to the site on 1st December 2005