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Bulgaria Evrocom Cable Owner Up for Sale - Report

Date: 29.05.2009

Warburg Pincus LLC, the New York- based private equity firm, may sell central and east European cable-television operator FiberNet Communications, Bloomberg agency reported, citing sources.

Warburg Pincus initially paid about USD 72 M to buy a majority stake in FiberNet in 2004 and expanded the operator by acquiring assets including Bulgaria's Eurocom Cable and Eurocom Plovdiv in 2005 and 2006, according to its Web site.

Budapest- based FiberNet, which also provides broadband services, operates in Hungary, Bulgaria and Ukraine.

"A potential buyer for such an asset could be another cable company, a telecommunication company or another private equity company," said Frank Rothauge, a Frankfurt-based analyst at Sal. Oppenheim Jr. & Cie. "But it's not going to be easy. Buyers currently feel the impact of the economic downturn."

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