Major Bulgarian cable deal mooted

Bulgaria is preparing for consolidation in its cable industry at the highest level.

Local reports say sources at CableTel and Eurocom Cable, the leading operators, have confirmed that talks between the two parties have been in progress since the beginning of the year.

What is more, the two applied for regulatory approval of a deal on May 23. Significantly, it would appear that Eurocom Cable would be taking over CableTel, rather than the other way round.

CableTel, the current market leader, is backed by the UK investment fund Ramford Alliance Ltd, while Eurocom Cable has the backing of Warburg Pincus Private Equity.