United Group to acquire Bulgarian operators Net1 and ComNet Sofia

Friday, February 12th, 2021
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United Group agrees to acquire 100% of share capital of Bulgarian operators Net1 and ComNet Sofia

United Group, the leading provider of telecommunications services and media in Southeastern Europe, has reached an agreement to acquire 100% of the share capital of the Bulgarian operators Net1 and ComNet Sofia.

The deal is being carried out as an add-on acquisition by Vivacom, United Group’s Bulgarian operator.

Net1 is among the leading operators in the Sofia region providing internet and pay-TV services to residential users as well as integrated telecom solutions for business clients, including services such as IT support, telephony, and video surveillance.

Comnet Sofia is a new generation internet and television provider with its own Fiber-to-The-Building optical network (FTTB).

The deal, which is subject to all necessary approvals from the relevant regulatory authorities, will further strengthen United Group’s position in Bulgaria as an innovative next-generation telecom and a leader in the provision of high-quality internet and TV access. It is expected to close in the second quarter of 2021.

United Group entered the Bulgarian market in 2020 with the acquisition of Vivacom, the country’s largest domestic operator. In January of this year United Group completed the acquisition of Bulgaria’s largest multi-platform media company, Nova Broadcasting Group, and announced a deal to acquire Bulgaria’s Vestnik Telegraf EOOD newspaper business.