November 11, 2019 / 1:27 PM / 5 months ago

Russia's VTB sells stake in Bulgaria's Vivacom telecoms operator

MOSCOW (Reuters) - Russia’s VTB said on Monday that VTB Capital, its investment unit, had sold its entire stake in Bulgaria’s leading telecoms operator, Vivacom, to United Group, a telecoms and media company.

United Group, owned by private equity firm BC Partners, said last week it had agreed to acquire Vivacom. Two sources familiar with the deal had said it was worth 1.2 billion euros ($1.3 billion).

VTB did not disclose the terms of the deal with United Group.

Reporting by Maria Tsvetkova; Wrting by Gabrielle Tétrault-Farber; Editing by Louise Heavens

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