LIC33 Buys Bulgarian Telecom From Owner of Failed Corporate Bank

A group of European investors bought a 43 percent stake in Bulgaria’s biggest telecommunications company Vivacom AD and took over other companies from Corporate Commercial Bank AD’s owner Tsvetan Vassilev.

The Luxembourg-registered LIC33 also bought 100 percent of Nurts, Vivacom’s radio and television transmitter unit, 91 percent in Avionams military aviation repair plant in Plovdiv, 91% in Dunarit ammunitions maker in Russe and other assets including TV cable licenses, Pierre Louvrier, LIC33 chairman, told reporters in the capital Sofia on Tuesday.