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Icelandic Mogul Buys Bulgaria's BTC, Vivatel

Date: 01.12.2005
Icelandic tycoon Thor Bjorgolfsson, owner of Novator investment fund, has inked an agreement with British-based equity house Advent International which gives the fund the option to buy all the shares in Viva Ventures, owner of 65% of the shares of the Bulgarian Telecom Company. The price was not disclosed. Should the relevant authorities in Bulgaria approve the agreement, Bjorgolfsson will acquire 65% in the Bulgarian Telecom Company and 100% of the shares in its wireless unit, vivatel. Viva Ventures is a wholly-owned unit which Advent International registered for the privatization procedure of BTC.
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