EQT V has reached an agreement to sell the Bulgarian cable operator blizoo to the Telekom Austria Group. blizoo is offering high-end internet, TV and fixed line telephony services to its customer base.

EQT V acquired blizoo in 2009. During EQT V's ownership, blizoo has significantly expanded the product offering and invested heavily to upgrade the network, becoming the leading high-end quality cable operator in Bulgaria. During 2014, blizoo generated sales of EUR 47 million and had an EBITDA of EUR 19 million. blizoo has almost 1,200 employees.

The transaction is subject to approval from merger authorities and is expected to close during the fourth quarter of 2015.

SPEAS has made an investment commitment of EUR 40m to the private equity fund EQT V.

View the press release from EQT here

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