Bulgaria : Blizoo sale cancelled

EQT, a Sweden-based investment found, has eventually called off a sale of Blizoo, the second biggest CaTV operator in Bulgaria. It is a result of limited interest and major price disagreement, TMT Finance reported.
According to the market analysts quoted by the source, EQT was probably seeking bids in excess of €175-200m. At first Telenor Group, Telecom Austria and SBB Telemach, strategic investors, as well as several private equity funds were taken into consideration as potential buyers. However, the offer presented by EQT did not meet buyers' expectations. The cancellation of Blizoo sale means EQT failed to quit the Bulgarian and Macedonian telecommunications markets.
Blizoo was established in Bulgaria in 2009. Since then, the operator and its subsidiary in Macedonia have attracted a total of 440,000 subscribers. In 2012 both companies reported combined sales of €57m and EBITDA of €22m.

Source: PMR