By a decision dated August 3, 2023 but published a couple of days ago, Bulgaria's Commission on Protection of Competition (CPC) gave Saudi company TAWAL an immediate go-ahead to acquire Vivacom's telecommunication towers in Bulgaria, Croatia and Slovenia.
The antitrust watchdog authorized Luxembourg-registered TAWAL Europe Holding to acquire sole control over United Towers Bulgaria, United Towers of Croatia and United Towers of Slovenia. The CPC dismissed an opposition to the USD 1.22 billion business concentration by one of Vivacom's competitors, Yettel, which insisted on an in-depth market research of the impact of the acquisition. The Commission credited TAWAL's argument that it cannot impact the Bulgarian market because it has not been previously present on it.
The Saudi company argued that the transaction will help it continue investing in its mobile network, including the planned building of nearly 2,000 base stations in the three countries over the next 20 years, which will benefit users.
TAWAL will thus purchase all 3,200 towers of Vivacom in Bulgaria, and Vivacom will continue to use them, paying rent to the Saudis.
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