Bulgarian subsidiary Mobiltel acquires cable operator blizoo Bulgaria
Jul 30, 2015
Vienna, 29 July 2015
Today the Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces that its Bulgarian subsidiary Mobiltel has agreed with the seller EQT V to acquire 100% of the cable operator blizoo Bulgaria.
blizoo is the second largest fixed-line operator in Bulgaria and has an 8% share in the fixed broadband market and an 11% share in the TV market (Telekom Austria Group estimate). The company currently has approximately 373,000 subscribers, which obtain fixed voice, broadband and TV products via DOCSIS 3 technology. In total blizoo Bulgaria covers 1.3 million households.
In 2014 revenues and EBITDA amounted to EUR 47 mn and EUR 19 mn respectively. As agreed between the parties, details regarding the purchase price will not be released.
Telekom Austria Group will finance the transaction via existing cashflow. The closing is expected for Q4 2015. The transaction is subject to merger control clearance.
**Disclaimer for forward-looking statements: ** This document contains forward-looking statements. These forward-looking statements are usually accompanied by words such as "believe", "intend", "anticipate", "plan", "expect" and similar expressions. Actual events may differ materially from those anticipated in these forward-looking statements as a result of a number of factors. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results or outcomes to differ materially from those expressed in any forward-looking statement. Neither Telekom Austria nor any other person accepts any liability for any such forward-looking statements. Telekom Austria will not update these forward-looking statements, whether due to changed factual circumstances, changes in assumptions or expectations. This report does not constitute a recommendation or invitation to purchase or sell securities of Telekom Austria.
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