EQT buys leading Bulgarian cablecos
October 30, 2009
Bulgaria’s cable industry has been transformed overnight by the Swedish investment group, EQT V, which has acquired both 100% of Eurocom from Warburg Pincus and 70% of CableTel from Gene Philips for a combined total of more than €200 million.
EQT V now plans to merge the two companies, already the two largest cable operators in Bulgaria, to create one that will be the undisputed market leader in the country’s cable industry.
Along with Ron Finlay, a 30% shareholder in CableTel who will commit more equity in the new venture, it will invest in new products in digital TV, broadband and telephony.
EQT V’s other interests currently include the German cable operator Kabel BW.