Back in June 2004, Advent bought the 65% stake in BTC in following a lengthy two-year privatization process. The remaining 35% was floated on the Sofia Stock Exchange.
Joanna James, managing director of Advent International said: “BTC offered enormous potential when we first bid for it in 2002 and, since acquiring a majority stake the company in 2004, we have worked hard to fulfil that potential. BTC has substantially increased the digitalisation of its network, launched new services including ADSL broadband and launched BTC Mobile. It is now one of Europe’s major telecom businesses with a great future.”