Telenor : Telenor acquires the second largest mobile operator in Bulgaria
(Fornebu, 26 April 2013) Telenor has today signed an agreement with OTE to
acquire Bulgarian mobile operator Globul for a total amount of EUR 717 million
on a cash and debt free basis.
Globul is the second largest mobile operator in Bulgaria with 4.5 million
subscribers and a market share of 36 percent. The transaction also includes
Germanos Bulgaria, the leading telecom retailer in the country operationally
integrated with Globul.
"Based on our experience in Telenor's well-performing operations in the
region, we strongly believe that we will be able to create value in the
Bulgarian market. By contributing with our scale and experience to Globul's
competence and market knowledge, we can offer even better quality and more
advanced services to Bulgarian customers," says Jon Fredrik Baksaas, President
and CEO of the Telenor Group.
In Central and Eastern Europe, Telenor Group is currently present in Hungary,
Serbia and Montenegro. The company is a leader in terms of mobile revenue
share in Serbia and Montenegro.
"Our entrance into the Bulgarian market enhances the potential for
cross-border co-operation and increased efficiency that our customers,
businesses and the Telenor Group as a whole will benefit from. We also see a
potential in expansion of mobile data and internet-based services in the
market," said Kjell-Morten Johnsen, Executive Vice-President and Head of
Globul has been present in Bulgaria since 2001. At the end of 2012, the
company reported 4.5 million subscribers and a 36 percent subscriber market
share. In 2012, Globul and Germanos Bulgaria generated revenues of EUR 378
million and EBITDA of EUR 135 million.
The transaction is subject to relevant merger control approvals and is
expected to be finalised in Q3 2013.
No further comments will be given until the press and analyst conference on
Monday, 29 April 2013 at 0900 CET.
Press and analyst conference
Telenor Group will hold a press and analyst conference on Monday, 29 April
2013 at 09.00 CET at the Telenor Group Visitor Centre. The presentation will
be conducted by Kjell-Morten Johnsen, Executive Vice President and Head of
The press and analyst conference will be broadcast live over the Internet, and
a recorded version will be made available at www.telenor.com.
The press and analyst conference will also be available as a conference call.
This service allows participants to ask questions at a concluding Q&A session,
which will be held immediately after the presentation and a Q&A session in the
Dial-in details for the conference call, as well as the presentation material,
will be provided at www.telenor.com on 29 April at 07.00 CET
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information contained therein.
Source: Telenor via Thomson Reuters ONE
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