Four operators to bid for Globul

Four major telecom operators are willing to buy the Bulgarian mobile operator Globul. The deal is presently estimated at around €700 mln.

The largest Greek operator OTE plans to sell Globul in order to refinance a debt of €1.8 bn at the beginning of 2014, Darik radio reported on Friday.

The Turkish Turkcell and Turk Telekom and Telenor Norway are examining the conditions for the sale of the second largest mobile operator in Bulgaria.

Deutsche Telekom, which has a 40% share in OTE is also interested in Globul. The German telecom company rather intervenes in order to make the other candidates offer better prices, officials comment, cited by Reuters. The name of the fourth candidate is not known yet.

Bids will be expected until March 18 and the deal is likely to be completed at the end of March or in April.

According to other sources, OTE may eventually give up the sale, having gained €500 mln from bonds this week. The company will probably wait to see the offers and make its final decision afterwards.

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