shopify visitor statistics
Browsing Tag

Yantra homes real estate

News

Vivacom (Bulgaria Telecommunications Company) is bought!

bulgaria telecommunications company

Vivacom has new owners

telephone palace bulgaria property
The large central building of Telephone Palace

The acquisition of Vivacom (Bulgaria Telecommunications Company) was approved by the European Commission and local regulators, Vivacom said in a regulatory filing in Sofia today.

Viva Telecom Bulgaria EAD, owned by affiliates of Russia’s VTB Capital Plc and Sofia-based Corporate Commercial Bank AD (6C9), acquired 94 percent of Vivacom (5BT) AD, Bulgaria’s second-biggest phone company by clients.

VTB Capital and Corporate Bank signed an agreement with Vivacom’s creditors on Aug. 7 to pay 130 million euros ($165 million) for a 94 percent stake in Vivacom and pay debts worth 588 million euros, which have been reduced from 1.7 billion euros through debt repayment, equity conversion and debt write off, it said.

Bulgaria property in Sofia

the interior of properties such as the Telephone Palace in Sofia could be converted to high class Bulgarian Real Estate in some prime locations

“Vivacom’s sale is good news,” Veselin Radoichev, an analyst at First Financial Brokerage House in Sofia, said by phone. “The new owners, partly being Bulgarian, will probably tighten spending and improve the balance sheet. They may choose to divide or sell some of its assets and at a later stage sell the company to a strategic investor for a much higher price. Vivacom’s mobile unit is performing very well.”

Mobile Services
Vivacom reported on Oct. 17 a 34 percent profit increase for the first nine months to 33 million lev ($21.4 million) from a year ago, driven by a 12.4 percent rise in sales of mobile services, which amounted to 296 million lev. Fixed-line sales declined 9.3 percent in the same period.

Vivacom controls about 15 percent of the mobile services market and has room to expand, Radoichev said. Vivacom competes with Telekom Austria AG (TKA)’s Mobiltel, and Globul, which is controlled by Greece’s Cosmote SA.

Vivacom’s creditors, which took over the company after it breached terms on 1.6 billion euros of loans in 2011, rejected bids in May by Turkcell Iletisim Hizmetleri AS (TCELL) and Icelandic billionaire Thor Bjorgolfsson, who controlled the company between 2005 and 2007.

The loans were arranged by Deutsche Bank AG, UBS AG (UBSN) and UniCredit SpA (UCG), along with Royal Bank of Scotland Group Plc to finance Vivacom’s 2007 buyout, according to data compiled by Bloomberg.

Vivacom fell 7.7 percent to close at 3 lev in Sofia yestaerday, compared with a close on Nov. 1 when the stock last traded.

Source Bloomberg News, written by Elizabeth Konstantinova in Sofia

News

Property in Bulgaria, Veliko Tarnovo…in the spotlight

The early Spring evening sky of Veliko Tarnovo, over the historic River Yantra Gorge and Statue of  The Asens, exploded into an eruption of powerful spotlights, piercing Lasers, strobe lights  and sound and music last night.

This is just a dress rehearsal for the evening celebrations of Veliko Tarnovo holiday on Thursday 22nd March.

Houses in Bulgaria are illuminated by lasers

A dazzling array of lasers and searchlights pierced the evening sky over Veliko Tarnovo. Photo property of Yantra Homes not to be re-produced without prior permission

Spotlights pick at the old revival Bulgarian houses
on the edge of The River Yantra
Photo property of Yantra Homes not to be
re-produced without prior permission

The rehearsal pleased local Veliko Turnovo residents and tourists who were lucky enough to be on the old historical Gurko Street, where typical old Bulgaria property built during the renaissance and pre-revival period nestle precariously on the cliff slopes and little streets by the river gorge.

This again shows what Veliko Tarnovo municipality are doing to arouse interest in this most historic town and region with numerous eco tourist attractions and cultural centres, towns and villages. Another attraction also to support a decision to buy a Real Estate in Bulgaria. Either a holiday home in Bulgaria or permanent living space in a Bulgarian property.