EQT takes over two Bulgaria cable operators

Private equity firm EQT acquired two of Bulgaria’s major cable TV and Internet operators for over €200m and said on Thursday it would merge them to form the Balkan country’s biggest cable operator.

Under the deals, Sweden-based EQT through its EQT V fund acquired 100% of Eurocom from US private equity firm Warburg Pincus and 70% of privately-owned CableTel, EQT said in a statement.

The new company will provide cable television, broadband Internet and fixed-line phone services, as well as interactive digital television, Istvan Polony, who will be chief executive of Eurocom and CableTel, told a news conference.

The merger between the two companies with one majority shareholder has been approved by the Bulgarian commission for protection of competition earlier this year.