Bulgarian telecoms firm Vivacom expects indicative offers by end-July

SOFIA: Bulgaria’s leading telecoms operator Vivacom has been put up for sale and indicative offers are expected by the end of July two sources familiar with the process said on Friday, despite a legal dispute over who owns the company.

Vivacom’s main shareholder, Bulgarian businessman Spas Roussev, confirmed that a sale process was underway and that Lazard had been hired to handle it.

A minority shareholder, Russia’s VTB Bank, said in a separate statement that bids have been sent out to potential buyers and feedback was expected by the end of the summer.